Pentair to Acquire Erico Global Company

Pentair

Pentair Plc has agreed to buy Erico Global Company for US$1.8 billion in cash, including the repayment of Erico debt. The purchase will expand Pentair’s portfolio in growing commercial and industrial sectors.

Based in Solon, OH, Erico is a global manufacturer and marketer of engineered electrical and fastening products for electrical, mechanical and civil applications.

The company has 1,200 employees in 30 countries. Brands include:
•    Caddy fixing, fastening and support products
•    Erico electrical grounding, bonding and connectivity products
•    Lenton engineered systems

“The addition of Erico’s complementary business will expand our presence in the commercial and industrial sectors,” says Randall J. Hogan, Pentair Chairman and CEO. “Erico has a strong global business and valued brands, making it a perfect fit for Pentair. We have similar cultures and serve similar industries with complementary products, which will create a broader and stronger offering for our end users.”

The transaction values Erico at 12 times its 2015 forecasted EBITDA. The transaction is expected to close this year.

Related Articles


Changing Scene

  • Sonepar Announces Brand Consolidation in Ontario

    Sonepar Announces Brand Consolidation in Ontario

    Sonepar proudly announces the consolidation of their Ontario businesses from five brands to two. Aztec, Dixon and MGM will rebrand as a new and refreshed Dixon. Electrozad and Sesco will carry the new Electrozad brand. “Through many years of continued growth and acquisitions at Sonepar Canada, we have reached an exciting point in Ontario where… Read More…

  • Houle Selected as Electrical and Technology Contractor for the New BC Cancer Centre

    Houle Selected as Electrical and Technology Contractor for the New BC Cancer Centre

    In late August, Houle were proud to announce that they had been selected as the electrical and technology contractor for the new BC Cancer centre at the Royal Inland Hospital campus in Kamloops. Located adjacent to Royal Inland Hospital, this five-storey cancer centre will provide people in BC’s Interior with expanded access to cancer care… Read More…


Peers & Profiles