Emerson signed an agreement to purchase Pentair’s valves and controls business, which provides valve solutions for customers, Emerson said Aug. 18.
The acquisition will support Emerson's operations in control, isolation, pressure relief valves and actuation as part of a larger strategy to build a broader automation portfolio.
The Switzerland-based Pentair valves and controls business has nearly 7,500 employees around the world for chemical, petrochemical, oil and gas, power, mining and other process industries.
The acquisition is expected to close in the next four to six months, subject to various regulatory approvals.
Greenhill & Co. LLC was Emerson’s financial adviser, and Davis Polk & Wardwell LLP was Emerson’s legal adviser.
This transaction follows Emerson’s recently announced divestitures of Network Power, Leroy-Somer and Control Techniques for a total of $5.2 billion as part of the company’s overall strategic portfolio repositioning that began in June 2015.
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