Pentair Acquires Manitowoc Ice for $1.6 Billion

Faegre Drinker advised Pentair plc in its acquisition of Manitowoc Ice, a leading provider of commercial ice makers, from Welbilt, Inc. for $1.6 billion. Pentair's President and CEO noted that the strategic acquisition allows Pentair to enhance and deliver its total water management offerings to an expanded network of channel partners and customers, further establishing Pentair as a leader in a vast and growing industry. Welbilt's sale of Manitowoc Ice to Pentair paved the way for Welbilt to complete its sale to Ali Group in a larger transaction that involved regulatory approvals from the U.S., United Kingdom and European Commission. The transaction closed on July 28, 2022.