Pentair Completes Sale of Equipment Businesses

Pentair announced today it has completed the sale of Lincoln Industrial and Century Manufacturing.
The wholly-owned Lincoln Industrial automated lubrication and materials dispensing business sale is to a company newly formed by The Jordan Company LLC of New York, N.Y. Pentair also said it completed the sale of its wholly owned Century Mfg. Co. automotive service equipment business to Clore Automotive, a business formed by K&K Jump Start-Chargers, Inc. and a Kansas City, Mo., equity investment group.
The divestitures of Lincoln Industrial and Century were previously announced on July 20, 2001, and June 14, 2001, respectively. Pentair did not disclose details of the transactions, but said it will use the proceeds from the sale to reduce debt.
The Jordan Company is a New York-based private investment firm that specializes in buying and building companies in partnership with management. Clore Automotive is a privately held manufacturer of jumpstarter/portable power units and battery chargers, based in Kansas City, Mo.