Water treatment company Pentair plc undefined said Thursday it has entered an agreement to acquire Manitowoc Ice, a provider of commercial ice makers, for...
Water treatment company Pentair plc said Thursday it has entered an agreement to acquire Manitowoc Ice, a provider of commercial ice makers, for $1.6 billion. Adjusted for about $220 million of tax benefits, the company will pay about $1.38 billion. The deal is expected to close in the second quarter and London-based Pentair will fund it by issuing new debt that it expects to be investment grade. Manitowoc Ice is a portfolio company of Welbilt Inc.
The deal is expected to close in the second quarter and London-based Pentair will fund it by issuing new debt that it expects to be investment grade. Manitowoc Ice is a portfolio company of Welbilt Inc. [s :wbt] a maker od commercial ice machines for the U.S. and global markets. The deal is expected to add 25 cents to adjusted per-share earnings in 2023 and 40 cents in 2025.
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