Pentair trimming its aquaculture equipment division, other related assets
London, United Kingdom-based Pentair has shuttered its Aquatic Eco-Systems aquaculture business, continuing a larger sell-off of the water treatment technology-maker’s aquaculture operations.
The move follows the May closure of Pentair’s corporate partner, Urban Organics, an aquaponics fish-and-produce enterprise based in St. Paul, Minnesota, U.S.A., which the company said failed to meet expectations.
Pentair, which has its U.S. headquarters in Minneapolis, Minnesota, U.S.A., had revenue in 2018 of USD 3 billion (EUR 2.7 billion) and operates approximately 130 locations in 34 countries, employing approximately 10,000 workers.
“While we believe the aquaculture business offers attractive long-term opportunities, the short-term business model does not meet our expectations,” the company said in a statement to SeafoodSource. “Pentair is looking to focus its Aquatic Systems segment on its core competencies in the residential and commercial pool segments.”
Pentair’s AES clients include Marine Harvest Canada and Open Blue, a cobia producer based in Panama.
Pentair did not say whether it’s leaving the aquaculture space altogether but the company is trimming down operations both in North America and globally.
“Pentair has begun the process to market and sell portions of the Aquaculture business including the legacy Vaki business, Chile operations and the online catalog operation, which we plan to operate business as usual as we navigate through the sale process,” the company explained in the statement.
In April, Pentair announced first-quarter 2019 sales of USD 689 million (EUR 610 million). Sales were down 6 percent compared to sales for the same period last year, according to the company.
Photo courtesy of Pentair