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Pentair considers potential sale of industrial solutions business

Pentair is looking at possible options to sell part of its industrial solutions business, Bloomberg has reported quoting unnamed sources, with any sale expected to interest private equity firms. 

The industrial company which produces water pumps, pool equipment, agricultural products and other water-related equipment, is working with an advisor on the sale of the asset. 

A final decision hasn’t been made and Pentair could elect to retain the assets.

Pentair recorded a 13% year-on-year increase in sales leading to $1.06 billion in the second quarter and attained an EPS of $1.02.

It agreed to buy commercial ice maker Manitowoc Ice from Welbilty Inc. in March for $1.6 billion.

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