Pentair Announces Acquisition of Union Engineering

Pentair plc (NYSE: PNR) announced today that it has completed the acquisition of Union Engineering A/S, headquartered in Fredericia, Denmark. Union Engineering specializes in sustainable technologies for capturing, recovering and purification of carbon dioxide.

As an established leader in carbon dioxide management and recovery with its Haffmans brand, the addition of Union Engineering’s technologies and service capabilities reinforces and expands Pentair’s offerings within the Industrial Gas, Food & Beverage and Biogas Upgrading sectors. “Pentair is committed to providing innovative solutions that help build a safer, more sustainable world,” says Daniel Stirpe, Pentair Vice President, Process Technologies. “Reducing carbon dioxide emissions and utilizing renewable energy sources are global challenges which Pentair addresses with its carbon dioxide capture and reuse and biogas upgrading solutions, and the addition of Union Engineering’s solutions and services will provide customers greater access to innovative solutions and a wider and complimentary product portfolio.”

Jens Thøger Hansen, partner in Capidea and former chairman of Union Engineering adds: “We are pleased to have reached an agreement with Pentair as the two companies complement each other well in a number of areas. We believe that Union Engineering, under Pentair, will continue the positive development and have an even stronger foundation in the market for carbon dioxide equipment for the benefit of both customers and employees going forward.”

Union Engineering employs approximately 185 people, and has sales offices in China, Brazil and the United States. The seller is the Danish private equity fund Capidea and a number of minority shareholders. The partly owned subsidiary Airco Diet A/S is not part of the transaction and is still owned by Capidea and a number of minority shareholders.

About Pentair plc

Pentair plc (www.pentair.com) delivers industry-leading products, services, and solutions for its customers’ diverse needs in water and other fluids, thermal management, and equipment protection. With 2016 revenues of $4.9 billion, Pentair employs approximately 26,000 people worldwide.

About Union Engineering

Union Engineering is a global leading engineering company specialized within sustainable technologies for capturing, recovering and purification of CO2. The main activities are engineering, procurement, construction, and maintenance of modular and individually designed CO2 plants. Over the last 30 years, Union Engineering has delivered more than 1,000 CO2 plants in 110 countries and has a wide range of unique patents. For more about Union Engineering, please see www.union.dk.