Pentair (PNR) was founded in 1966. The company is an opportunistic industrial equipment manufacturer based in Ireland.

Pentair’s focus has shifted substantially over the last ~50 years. Through the 1960’s and 1970’s, the company was involved mainly in the paper industry.

In the 1980’s, Pentair acquired Porter-Cable and became involved in the manufacturing of tools.

The 1990’s marked significant international expansion for Pentair.

In 2004, Pentair acquired Wicor Industries and entered into the water industry.  Wicor manufactures water filtration and pool equipment under the Sta-Rite, SHURflo, and Hypro brands.

In 2012, Pentair and Tyco Flow Control Solutions merged, further diversifying the business.

Today, Pentair classifies itself as “a global provider of systems and solutions to serve the world’s food, water, and energy needs”.

The image below breaks down the company’s sales by segment, geography, and industry.

Source:  Pentair 2015 Bernstein Strategic Decisions Conference, slide 5

The Valves & Controls segment designs, manufactures, sells, and services valves, fittings, automation and controls, and actuators for the energy and industrial industries.

The Flow & Filtration segment designs, manufactures, sells, and services filtration, separation, flow, and fluid management systems for the agriculture, food and beverage, industrial, and water supply industries.

The Water Quality Systems segment designs, manufactures, sells, and services water systems and products for  filtration and fluid management applications in food  and beverage, swimming pools, and aquaculture industries.

The Technical Solutions segment designs, manufactures, sells, and services electronic equipment protection products and fluid management equipment protection products.

Competitive Advantage

Pentair has paid increasing dividends for 39 consecutive years. The company’s long dividend streak is evidence of a sustainable competitive advantage.