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Cartridge-filtration products maker Pleatco will become part of "Big 3" manufacturer Pentair.

The companies have entered into a definitive agreement for the acquisition of Pleatco, the Louisville, Ky. producer of water filtration and clean air technologies for pool, spa and industrial air applications. The company will be purchased from private equity firm Align Capital Partners, which had owned Pleatco since 2017.

The transaction is projected worth $255 million, with some adjustments expected. Pentair expects Pleatco to generate approximately $95 million in 2021. The transaction is expected to be accretive in its first full year.

The deal is expected to finalize in the fourth quarter.

“We are excited to expand our presence in the aftermarket filtration space with an enhanced product offering that advances our objective to offer an effortless pool experience for consumers,” said Pentair President and CEO John Stauch.

With the acquisition, Pentair hopes to bring more cohesion to the pool/spa filter category. "We are excited about the planned acquisition of Pleatco as it provides us enhanced offerings in the aftermarket filtration space, which continues to be a very fragmented space..." said De’Mon Wiggins, vice president of Pentair Pool and Spa. "We are also excited about enhanced product offerings, providing the opportunity to ... advance our objective to offer an effortless pool experience."

The company plans to maintain Pleatco's current operations in order to minimize disruption, Wiggins said. Ultimately, Pentair expects Pleatco's facilities to offer enhances across the company, he added: "Through Pleatco’s manufacturing footprint, [the acquisition] provides increased production capacity to better serve our channel partners."

As part of Pentair's global network, the filtration products are expected to become available to more consumers and markets.

Since Align Capital purchased Pleatco, the company's executive management expanded significantly, with the hiring of President Seth Soltow, active board member Rick Von Drehle, CFO Sharon Adams and CRO Pete Todd.

After the deal closes, more will be known about the branding of Pleatco products and plans for existing Pleatco management.

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