WASHINGTON (dpa-AFX) - Pentair plc (PNR) announced on Tuesday that it has agreed to acquire Taco Group Holdings, provider of hydronic and water-based solutions, for about $1.4 billion.
The company expects the acquisition to expand its portfolio of smart, sustainable water solutions to support increased exposure to key high-growth end-markets primarily in North America.
Pentair would fund the deal with existing cash facilities and committed bridge financing, which will be refinanced with a permanent debt issuance.
The company expects the deal to be $0.10 to $0.15 accretive to adjusted EPS in fiscal 2027. Also, Pentair expects $30 million in annual run-rate cost synergies. Notably, Taco is expected to generate approximately $540 million in revenue in fiscal year 2026.
Upon completion of the transaction, Taco is planned to be a part of Pentair's Water Solutions reportable segment, and it is expected to continue to go-to-market under the Taco brand.
The transaction is expected to close in the fourth quarter of 2026.
In pre market activity on NYSE, shares of Pentair were down 6.03 percent, changing hands at $59.34, after closing Monday's regular session 0.48 percent higher.
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