MANITOWOC — Pentair, a leading water treatment company, plans to acquire a Wisconsin manufacturer of commercial ice machines for $1.6 billion.
Pentair, headquartered in London and managed out of Golden Valley, Minnesota, has a definitive agreement to buy Manitowoc Ice, based in Manitowoc, Wisconsin.
Pentair's chief executive John Stauch says the acquisition is expected to be a game-changer for its commercial water solutions platform.
Manitowoc Ice is a subsidiary of Wellbit Inc., a Florida-based maker of commercial food-service equipment.
With plants in Wisconsin, Mexico and China, Manitowoc Ice employs 800 people and manufactures about 200 models of commercial ice-making machines used in a variety of food service and industrial settings.