Pentair Inc and GE Water & Process Technologies, have announced a joint venture to combine their respective global water softener and residential water filtration businesses.
“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 chairman 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% ownership stake and GE has a 20% stake of the joint venture – Pentair Residential Filtration. In 2007, the combined residential and commercial net sales of the parent companies were approximately US$450 million.