PNR - Mergers and acquisitions

Pentair plc (NYSE:PNR), a leader in helping the world sustainably move, improve and enjoy water, life's most essential resource, today announced that it has acquired Florida-based G&F Manufacturing, LLC for approximately $108 million in cash at closing, subject to certain adjustments. The acquisition is expected to be modestly accretive to Pentair earnings in 2025. G&F Manufacturing, LLC manufactures and services heat pumps for pools under the Gulfstream brand in the Southeast portion of the United States. The Gulfstream brand expands Pentair's pool equipment offerings to customers in Florida and surrounding areas. "Heat pumps are an important offering for customers in critical geographic

Welbilt, Inc. (NYSE:WBT) today announced that it has entered into a definitive agreement to sell its Manitowoc® Ice business ("Manitowoc Ice") to Pentair plc (NYSE:PNR) for approximately $1.6 billion in cash, on a cash free and debt free basis, subject to customary post-closing adjustments. Manitowoc Ice designs, manufactures and markets a full line of ice machines and related equipment and generated sales of approximately $308 million in 2021. Commenting on the transaction, Bill Johnson, Welbilt's President and CEO, said, "We believe that this transaction is a good outcome for both Welbilt and Manitowoc Ice. We are confident that the successful closing of this transaction will pave the wa

First quarter sales of $866 million. First quarter GAAP EPS of $0.78 and adjusted EPS of $0.81. The company updates its full year 2021 GAAP EPS guidance to approximately $2.65 to $2.80 and on an adjusted basis to approximately $2.80 to $2.95. Reconciliations of GAAP to Non-GAAP measures are in the attached financial tables. Pentair plc (NYSE:PNR) today announced first quarter 2021 sales of $866 million. Sales were up 22 percent compared to sales for the same period last year. Excluding currency translation, acquisitions and divestitures, core sales grew 19 percent in the first quarter. First quarter 2021 earnings per diluted share from continuing operations ("EPS") were $0.78 compar