CHICAGO — New ownership is flowing through Ametek's Plymouth Water Filtration Division.
Culligan Water Technologies Inc. of Northbrook, Ill., finalized its merger with the Sheboygan, Wis.-based Ametek unit Aug. 1. The deal — valued at about $150 million — initially was announced in February.
Ametek's other divisions, including its Westchester Plastics compounding unit, have been spun off into a separate company that retains the Ametek name.
Ametek stockholders received more than 3.4 million shares of Culligan common stock at a ratio of 0.105 shares per each share of Ametek.
With the acquisition, the former filter competitors and their retailers will benefit, Culligan President and Chief Executive Officer Douglas A. Pertz said in a news release.
``Ametek's water filtration business is a logical, synergistic fit with our current business,'' Pertz said. Combining the firms will offer opportunities to tap new retail and distribution channels, he said.
The companies displayed their products together at the National Hardware Show held Aug. 10-13 at McCormick Place in Chicago.
Ametek injection molds housings for its filter products at its Sheboygan facility. The company's product line includes filters for faucets, showers and icemakers as well as above- and under-counter applications for sinks.