From the start, Pentair has been a company driven by vision, while grounded in the practical application of the best available ideas.
A Strong 150 year History
Many of our acquired businesses and their products have a rich history that dates back more than 150 years. Stemmed in innovation, these organizations have designed and engineered some of the most important flow management and heat solution products in the industry.
Spanning the globe and dating as far back as 1859, these product lines have been an integral part of the industrialization of many countries, helping to engineer industry operations in energy and processing - as well as establishing important infrastructure in the construction of power plants and water pipelines.
We are a company comprised of innovators and entrepreneurs. From the first self-regulated heat cable (Raychem) to the pilot-operated safety relief valve (Anderson Greenwood), we hold a number of patents for products essential to today's industries.
The Founding Five
August 31, 1966, Murray Harpole, Vern Stone, Vincent Follmer, Leroy Nelson and Gary Ostrand founded Pentair Industries, Inc. The founders based the name of the company on the Greek root penta-, a reference to the five founding partners.
First Public Offering
The first public offering of Pentair shares occurred on December 6, 1966. Fidelity Bank served as registrar and transfer agent.
Pentair Corporate Charter
Pentair's original corporate charter was quite specific in defining the general nature of the business: "To conceive, design, make, manufacture and see: devices which are inflatable with air and/or gas or substance; and electronic and mechanical devices." In 1968, Pentair updated its charter to indicate that "the corporation has broad business purposes." With this new language, the groundwork was laid for Pentair to become a diversified company in control of its destiny.
The Paper-Led Years
With the purchase of Peavey Paper Mills, Pentair entered the paper industry on June 3, 1968.
While driving Pentair's growth in the paper industry throughout the 1970's, the management team also focused on examining other avenues for growth and began to diversify the business portfolio into industrial products in 1978.
The Tools-Led Years
In 1981, Pentair made its first major investment in a non-paper business, acquiring Porter-Cable, a manufacturer of portable electric power tools. Looking ahead to the future, the team closely examined opportunities for stronger growth and higher shareholder returns. That continued focus on improvement led the company to upgrade its portfolio again, and in 2004, Pentair divested of its tools business and plunged into the water industry.
The Addition of Technical Products
Pentair's first foray into the enclosures industry began in 1988 with the acquisition of Hoffman Engineering Company. In 1994 and 1997 respectively, Pentair entered European markets through the acquisitions of Schroff and Transrack, manufacturers of electronic enclosures. Pentair continued to strengthen its enclosures offerings throughout the 1990's.
In 2005, Pentair enhanced its enclosures business with an acquisition of thermal management solutions and integration services. Rounding out Pentair's already strong technical products portfolio, this acquisition enhanced Pentair's ability to serve the ubiquitous electrical and electronics industries.
In 1989, annual sales exceeded $1 billion for the first time. Pentair drove sales to $2 billion in 2004, and just two years later, hit the threshold for $3 billion in sales.
On March 4, 1996, Pentair shares (symbol PNR) began trading on the NYSE.
The Water-Led Years
In 2004, Pentair completed the acquisition of Wicor Industries, bringing more than 5,000 passionate employees and market-leading brands such as Sta-Rite, SHURflo and Hypro to the Pentair water portfolio.
With the Wicor acquisition, Pentair solidified its $2 billion water technology business to serve multiple industries worldwide. Today, Pentair continues to strengthen its offering in water technology, bringing innovative solutions to bear on the world's ever-increasing water consumption needs.
In 2008, in a joint venture, Pentair and General Electric combined their respective global water softener and residential water filtration businesses to provide reliable and affordable water treatment solutions.
Flood Protection in the Gulf
In 2009, Pentair won its largest contract to date of $65 million for the Gulf Intracoastal Waterway West Closure Complex in New Orleans, Louisiana. It's expected that the pump station will be the largest in the world, providing flood control throughout New Orleans.
In 2009, Pentair and Nano Terra formed a strategic alliance to develop new solutions in water treatment.
Pentair Partners with the Twins
In 2010, under a multi-year sponsorship agreement, Pentair became "The Official Sustainable Water Provider" for the Minnesota Twins baseball organization and Target Field. Pentair donated a Rain Water Recycle System designed to allow the Minnesota Twins to recycle rain water and then use it to wash down the lower decks of the stadium and irrigate the ball field. It's estimated to reduce the need for municipal water at Target Field by over 50 percent, saving more than 2 million gallons of water annually.
Pentair returned approximately $80 million to shareholders through dividends and raised its quarterly dividend for the 36th consecutive year for 2012, up 10 percent.
Pentair is building on past success to ensure an even stronger future. With the acquisition of Tyco Flow Control, we unite two powerful traditions of continuous advancement. As a result, the new Pentair is prepared to lead our industries and deliver significant value. Today, Pentair is the global water, fluid process, thermal management and equipment protection partner with industry-leading products and solutions. Around the globe, our 30,000 Pentair employees apply fresh insights, a collaborative working style and rigorous approaches to create healthier, safer environments for all.