business

The move softened the company’s reliance on residential markets. Ironically, the deal was completed in September, just in time to smack into a fledgling housing recovery. Today, Pentair officials chirp about hope where there used to be angst.

“We are seeing continued signs of our North American residential recovery,” CEO Randy Hogan recently told analysts. “While the growth in the fourth quarter in North America was modest, distributor inventory levels are relatively low and overall demand seems to be getting healthier. ... [This offers] positive indications for growth to accelerate as 2013 progresses.”

 

Dee DePass • 612-673-7725