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Yahoo
18 hours ago
- Business
- Yahoo
Pentair's Hydra-Stop Purchase To Support Sustainable Water Flow In Growing Cities
Pentair plc (NYSE:) said Monday it will acquire Hydra-Stop LLC, a U.S.-based maker of specialty valve solutions, in a $290 million cash deal. After factoring in about $50 million in expected tax benefits, the net transaction value comes to roughly $240 million. Hydra-Stop, currently owned by Madison Industries, employs just over 50 people at its Burr Ridge, Illinois headquarters and generates nearly all its sales in the U.S. With approximately 99% of sales in the United States, the business is expected to produce around $50 million in sales in 2025, with margins close to 30%. Also Read: The acquisition is set to enhance Pentair's existing solutions and further support the water needs of growing cities. Pentair said the purchase will strengthen its commercial and infrastructure business by expanding solutions that help municipalities and service providers maintain water flow and limit losses. De'Mon Wiggins, executive vice president and president of Pentair Flow, called it 'a strategic acquisition' that supports the company's mission to sustainably move and improve water worldwide. After completion, Hydra-Stop will become part of Pentair's Commercial and Infrastructure unit under its Flow business segment. Pending regulatory clearance and other standard conditions, the deal is expected to close by the end of 2025. Pentair noted that Hydra-Stop's culture aligns with its own, easing the integration process. Pentair held cash and cash equivalents of $143 million as of June 30, 2025. Broader exposure to the sector is available through the Invesco Water Resources ETF (NASDAQ:PHO) and the First Trust Water ETF (NYSE:FIW). Price Action: PNR stock closed on Friday at $104.98, marking a decline of $1.65 or 1.55%. Read Next:Photo via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? PENTAIR (PNR): Free Stock Analysis Report This article Pentair's Hydra-Stop Purchase To Support Sustainable Water Flow In Growing Cities originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Time of India
5 days ago
- Entertainment
- Time of India
Will crypto be used in GTA 6? Viral post about Bitcoin reignites speculation; fans spilt between excitement and concern
As anticipation for the next instalment of the wildly popular Grand Theft Auto series grows, fans are buzzing not only about the game's graphics and storyline but also about a potential new feature: cryptocurrency integration. A recent Reddit post sparked a lively discussion when a user asked, 'What are everyone's thoughts on crypto potentially being used in GTA 6? Good or bad?' According to Binance, the most recent wave of speculation was sparked by a viral tweet from a Crypto Twitter influencer known only as 'Gordon'. With close to 500,000 followers, Gordon asserted that 'GTA 6 will support cryptocurrency payments,' specifically naming Bitcoin, Ethereum, and USDT (Tether) as confirmed features. Crypto integration: A new frontier for GTA 6? The concept of adding cryptocurrency to GTA VI aligns well with the game's immersive criminal world, potentially introducing new gameplay elements like decentralised transactions and blockchain-based collectables. Fans see this as a reflection of crypto's growing role in everyday life and an innovative step forward in gaming. Fans react to crypto integration in GTA 6 As soon as the post surfaced on social media, it quickly went viral on the internet, and fans reacted to the post, 'In the story with a fictional crypto? Yes, they will do a parody of crypto bros and NFTs. What people don't understand about making a crypto game is that would drain money OUT of the ecostem. Big gaming studios won't let that happen, look at valve with cs/dota items, they intentially make you keep the money in their system, if you could play the game, spend some money, make some more by playing/trading and then exchange the currency for dollars or worse a different game's currency than that would be a loss for rockstar.' 'There wont be cryptos in GTA 6,' one commented. 'There will be crypto references in gta 6 no question but unlikely will be a means of purchasing definitely not real crypto but investing in mock crypto will very likely make its way into the game.' 'I hope there isn't much. There's enough of it irl to try and avoid.' To stay updated on the stories that are going viral, follow Indiatimes Trending.
National Post
01-08-2025
- Business
- National Post
CORTEC Announces Acquisition of Houston-based Power Chokes™ from ADS Services
Article content HOUMA, La. — CORTEC, an internationally established U. S. manufacturer of choke, valve and automation products, announced today that it has acquired Power Chokes™ – a long-standing, prominent manufacturer of chokes and pressure control equipment – from ADS Services, a Black Bay Partners portfolio company. This acquisition includes the Power Chokes manufacturing division and all intellectual property associated with legacy Power Chokes equipment. Article content Established in 1988, Power Chokes has been a widely recognized, high-quality manufacturer of pressure control products and services for the oil and gas industry, including well control chokes, managed pressure drilling (MPD) chokes and pressure relief systems. Power Chokes has maintained a global presence for over 30 years, serving drilling contractors, operators and service companies across the industry. Article content This strategic acquisition strengthens CORTEC's commitment to cementing itself as the clear leader in manufacturing choke, valve and associated automation solutions for the global energy industry. By integrating Power Chokes' well-established base of chokes and pressure control equipment, this move significantly broadens CORTEC's footprint and expands its already extensive lineup of offerings for the worldwide energy sector. Article content 'Our team is excited to incorporate the Power Chokes brand and products into an expanding lineup of pressure control equipment offerings. This acquisition joins two leading brands in the well control choke and control systems market, combining a rich legacy of reliability and service within our sector,' said Bobby Corte Jr., CEO of CORTEC. 'We are honored to take custody of this long-established company and to instill the values, consistent quality and high reliability that the CORTEC brand is known for. We welcome the Power Chokes employees, customers and strategic partners to join us in this new, exciting chapter of our company.' Article content 'I want to thank the Power Chokes employees, customers and suppliers for years of dedication to the Power Chokes business. The team at CORTEC is perfectly situated to foster and continue to grow and support our product offerings. The ADS Services team looks forward to collaborating with CORTEC on our core managed pressure drilling business and the new product lines we are rolling out in the coming months,' said Charlie Orbell, CEO of ADS Services. Article content About CORTEC Article content Founded in January 2004, CORTEC is an internationally established US manufacturer of choke, valve and automation products suited to a range of global energy industry applications across upstream, midstream and downstream markets. CORTEC is a privately owned, vertically integrated organization comprised of two divisions, CORTEC Fluid Control (CFC) and CORTEC Manifold Systems (CMS). It engineers, manufactures, assembles and tests its products in Louisiana, USA under API 6A, 6D and 16C licenses with a quality system registered in accordance with API Q1 and ISO 9001. Article content About ADS Services Article content Based in the heart of the Permian Basin, ADS Services delivers cutting-edge managed pressure drilling (MPD) solutions that keep oil and gas drilling operations safe and efficient. The ADS management team has fostered MPD development for decades, and the company has delivered next-generation MPD solutions for US onshore and international operators. ADS has an operational base in Midland (TX) and a manufacturing and training base in Odessa (TX). ADS Services is a Black Bay Partners portfolio company. Article content Article content Article content Article content Contacts Article content MEDIA: Article content Article content Kristi Moore Article content Article content CORTEC Marketing Article content Article content Article content
