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Pentair Buys T-Tech ATF Exchanger Products

6 May 1998

Pentair Expands Service Equipment Business through Acquisition of T-Tech ATF Exchanger Products

    ST. PAUL, Minn., May 6 -- Century Manufacturing, a subsidiary
of Pentair, Inc. captured the leading share of the North American
automatic transmission fluid (ATF) exchanger market on April 30, 1998, by
acquiring the assets of privately held T-Tech Industries of Orlando, Fla.
T-Tech designs, manufactures, and markets ATF exchanger systems and
accessories under the T-Tech brand name. Pentair did not disclose the purchase
price, or the annual sales of T-Tech, but did say the company is profitable
and that it will be accretive to Pentair's 1998 earnings. The acquisition was
financed through existing lines of credit.
    "T-Tech's advanced technology, full line of accessories, and strong brand
identity will build our position in the service equipment market while giving
Century a dynamic new product line for the expanding ATF exchanger market,"
said G. Robert Gey, president of Pentair's service equipment businesses. "In
addition, we will have opportunities to market T-Tech products through the
channels served by Pentair's existing service equipment businesses, Century
and Lincoln."
    Century Manufacturing of Bloomington, Minn., a Pentair company since 1996,
provides automotive and general maintenance and repair markets with service
equipment including battery chargers, welders, portable power supplies,
refrigerant and coolant recyclers, and accessories. In July 1997, Century
gained the number two market position in refrigerant recyclers when it
acquired Toronto-based P&F Technologies.
    "The T-Tech acquisition furthers our strategy of growing through bolt-on
acquisitions that offer our existing businesses a means of extending their
product offering or entering new distribution channels," said Joe Collins,
president of Pentair's Professional Tools and Equipment Group.
    Pentair, with approximately 10,000 employees worldwide, is a diversified
manufacturer operating in three principal markets: professional tools and
equipment; water and fluid technologies; and electrical and electronic
enclosures. Headquartered in St. Paul, Minn., Pentair operates from 50
manufacturing and distribution locations in North America, Europe, and Asia.

SOURCE  Pentair, Inc.