GE, Pentair Join Forces for Residential Business
Pentair, Inc. and GE Water & Process Technologies, a unit of the General Electric Company have combined their respective global water softener and residential water filtration businesses, according to a recent press release.
"With the formation of this joint venture, Pentair and GE will be better positioned to serve residential customers with industry-leading technical applications in the areas of water conditioning, whole house filtration, point of use water management, and water sustainability," said Randall. J. Hogan, Pentair chair and chief executive officer. "Further, this joint venture advances Pentair's current residential filtration strategy for growth. We believe we will accelerate revenue growth by selling GE's existing residential conditioning and treatment products through Pentair's sales channels, by gaining access to some of GE's current and emerging filtration technologies."
Under the terms of the agreement, Pentair has an 80 percent ownership stake and GE has a 20 percent stake of the joint venture -- Pentair Residential Filtration.
Pentair and GE will continue to serve existing municipal, commercial, and industrial water treatment customers separately, sourcing select products from the joint venture as needed. Pentair Residential Filtration will bring together approximately 1,100 employees from Pentair and GE in 15 facilities in the United States, Europe, and China.