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Pentair Completes Transaction To Acquire Manitowoc Ice

Jul 28, 2022•almost 3 years ago

Acquiring Company

Pentair Plc

Acquired Company

Manitowoc Ice

Internet ServicesNatural ResourcesHealth Care

Description

Pentair plc (NYSE: PNR), a leading provider of water treatment and sustainable solutions, today announced that it has completed the previously announced transaction to acquire Manitowoc Ice from Welbilt, Inc. (NYSE: WBT) for $1.6 billion, subject to customary adjustments. Manitowoc Ice is a leading provider of commercial ice makers.

Company Information

Company

Pentair Plc

About

Pentair plc is a global leader in helping the world sustainably move, improve, and enjoy water, life’s most essential resource. With a focus on pool equipment and related solutions, Pentair plc continues to expand its offerings and reach through strategic acquisitions and sustainable initiatives, with a commitment to delivering smart, sustainable solutions to help customers enjoy water and make the most of life’s essential resource.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed