The Pentair Valves & Controls business is headquartered in Switzerland and has nearly 7,500 employees around the world. The business has a large global installed base in oil and gas, power, chemical, petrochemical and other process industries. Emerson recently announced divestitures of Network Power, Leroy-Somer and Control Techniques for $5.2 billion as part of the company’s overall strategic portfolio repositioning started in June 2015.
The transaction is expected to close in the next four to six months, subject to regulatory approvals. Greenhill & Co. LLC served as financial advisor to Emerson and Davis Polk & Wardwell LLP served as legal advisor.