Pentair completes separation of nVent
Pentair recently announced it has completed the separation of its Electrical business, which is now held by nVent Electric plc (nVent), a new independent, publicly-traded company. nVent shares started regular-way trading on the New York Stock Exchange on May 1, 2018, under the symbol ‘NVT.’
“We wish our colleagues at nVent continued success as they become a new, independent, high-performance electrical company focused on improving utilization, lowering costs, and maximizing uptime,” said John L. Stauch, Pentair President and Chief Executive Officer. “Pentair is now well positioned to deliver on its strategic initiatives as a pure play residential and commercial water treatment company focused on our belief that the health of our world depends on reliable access to clean water,” he added.
“We believe our new focus will better position us to deliver predictable, consistent, and sustainable growth, and that our strong financial position will allow us to invest in attractive growth opportunities that maximize returns for shareholders,” Pentair’s President also underlined.
According to the company, this new structure will allow each business to provide dedicated, best-in-class service for customers, and allow Pentair to further build upon its reputation for excellence in water solutions.
“The need for water touches nearly everything we do in our daily lives. At Pentair, we believe that the health of our world depends on reliable access to clean water. This belief guides everything we do, in hopes that we can build a better future by bringing reliable, accessible and clean water to every corner of the globe,” John Stauch highlighted. “By dedicating Pentair’s full energy and attention to this mission, we can develop new technologies, deliver unparalleled service to our customers and focus our philanthropic efforts to create a healthier world for all.”
With deep expertise in core technologies and applications across a broad and proven portfolio of residential, commercial, industrial, municipal, infrastructure and agriculture solutions, Pentair champions the intelligent use of water. Pentair’s industry-leading smart water solutions enable people, business and industry to access clean, safe water, reduce water consumption, and recover and reuse it. Its technologies also help ensure water is clean when returned to the environment.
The company introduced its new brand on the refreshed Pentair.com. The website showcases how Pentair helps customers and consumers improve, enjoy and move water, and delivers a differentiated, simple customer experience. Both the branding and website are centered on smart, sustainable solutions that empower Pentair’s customers to make the most of life’s essential resource.
With 2017 revenues of $2.8 billion, Pentair employs approximately 10,000 people worldwide.
About nVent
nVent with a principal office in London, England, and U.S. management office in Minneapolis, Minn., is a global leader of inventive electrical solutions that connect and protect customers by creating safer systems to ensure a more secure world. The nearly 9,000 employees worldwide design, manufacture and distribute electrical enclosures, electric heat tracing solutions, complete heat management systems, and electrical and fastening solutions. In 2018, nVent became an independent, publicly traded company after separating from Pentair. Its robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER.
nVent customers include commercial builders, energy companies, data centers and industrial manufacturers. The company’s business – divided into three segments – centers on six well-established brands.
The Enclosures segment is a leading global provider of electrical and electronics protection products and services. Marketed under the nVent HOFFMAN and nVent SCHROFF brands, nVent enclosures offer two-pronged protection: safeguarding electrical equipment from the operating environment and people from electrical hazards. The nVent HOFFMAN brand includes steel, stainless steel and non-metallic enclosures, modular enclosure solutions, and industrial cooling systems. The nVent SCHROFF brand includes server cabinets, data center cooling solutions, power supplies, sub-racks and cases.
The Thermal Management segment consists of global leading portfolios of heat tracing solutions and complete heat management systems. nVent RAYCHEM solutions include heat tracing for pipes in industrial plants, buildings and infrastructure, heating system components, fire-rated wiring cables, floor-heating cables and mats, and thermostats and controls. nVent TRACER offerings include turnkey heat management services, including design, engineering project management and construction services.
The Electrical and Fastening Solutions segment comprises components used to fix, fasten and protect cable and wire systems. The nVent ERICO brand offers components for electrical protection, rail and transit connectivity, telecom installation, and utility and industrial facility electrical systems. The nVent CADDY brand includes fixing, fastening and support products for electrical installation, seismic and fire protection, data communications and heating, ventilating and air conditioning systems.
