Pentair PLC will pay $1.8 billion for Ohio electrical and fastener maker Erico Global Co. in a deal that greatly expands its electrical offerings and diversifies an income stream that some worried was too dependent on the ailing oil and gas sector.
“This is a bolt-on acquisition — granted a big bolt-on,” Pentair CEO Randy Hogan said about the Erico
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via Pentair buys Erico, maker of fasteners and electrical equipment, for $1.8 billion – StarTribune.com.