Wisconsin Energy Sells Water Systems Maker
April 1, 2004
Wisconsin Energy Corp. agreed to sell WICOR Industries to Pentair Inc. for $850 million and the assumption of about $25 million in debt. WICOR manufactures water systems, filtration and pool equipment products under the brand names Sta-Rite, Hypro and SHURflo, which had about $750 million in collective revenues in 2003. The sale is expected to close in the second or third quarter following regulatory reviews.