Pentair Completes Acquisition of Rocean
Pentair plc (NYSE: PNR) has finalized its acquisition of Be the Change Labs, Inc. (Rocean), enhancing its portfolio of sustainable water solutions. Rocean's smart filtration technology aims to reduce single-use plastic usage in homes and businesses. This strategic move is expected to bolster Pentair's offerings in residential and commercial water treatment, driving innovation and sustainability. Notably, Rocean's product was recognized by TIME as a “Best Invention of 2020.” Pentair reported $3 billion in revenue in 2019, reflecting its substantial market presence.
- Acquisition of Rocean expands Pentair's core water treatment product line.
- Rocean's innovative technology supports sustainability efforts.
- Recognition of Rocean's product by TIME enhances brand credibility.
- Integration challenges may arise from the acquisition.
- Risks associated with forward-looking statements regarding the acquisition's benefits.
Pentair plc (NYSE:PNR), a leading water treatment company, today announced that it has completed its acquisition of Be the Change Labs, Inc., d/b/a Rocean. Rocean is an innovative technology and thought leader in smart, sustainable, water solutions. Its smart filtration devices provide counter top filtration solutions to help reduce single use plastic bottles in homes and businesses keeping them out of landfills and oceans.
“This acquisition further advances our strategy to expand our core water treatment products in the residential and commercial water business and allows us to continue serving customers in new ways, while also supporting our efforts to create a more sustainable future,” said Mario D’Ovidio, Executive Vice President and President, Pentair Consumer Solutions. “Together, we can connect people to great water in the home, on the go and around the world.”
The Rocean One was recently recognized by TIME as a “Special Mention” for its list of “Best Inventions of 2020.”
ABOUT PENTAIR PLC
Pentair makes the most of life’s essential resources, from our residential and business solutions that help people move, improve and enjoy their water, to our sustainable innovations and applications. We deliver solutions that help ensure the health of the world. Smart, sustainable solutions, for life.
Pentair had revenue in 2019 of
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This release contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements made about the acquisition, including the anticipated benefits of the acquisition, are forward-looking statements subject to risks and uncertainties, such as the company’s ability to integrate the acquisition successfully, as well as other risk factors contained in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2019 and subsequent Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date of this release. Pentair plc assumes no obligation, and disclaims any obligation, to update the information contained in this release.
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