Pentair, a provider of water treatment and sustainable services, has acquired Manitowoc Ice from Welbilt for $1.6 billion.
Manitowoc Ice brings a global footprint that will expand Pentair’s water filtration and ice solution offerings.
“Manitowoc Ice is a great business and an iconic brand, and we are excited to welcome its team members to Pentair as we work together to deliver smart, sustainable water solutions to customers,” said John Stauch, CEO of Pentair. “This strategic acquisition allows us to enhance and deliver our total water management offerings to an expanded network of channel partners and customers, further establishing Pentair as a leader in a vast and growing industry.”
J.P. Morgan Securities LLC served as financial advisor to Pentair, and Faegre Drinker Biddle & Reath LLP provided legal counsel.