Black & Decker To Buy Pentair’s Tools Group For $775 million

Black & Decker Corp., Towson, Md., said it will buy Pentair Inc.’s power tools group for about $775 million.

The Tools Group, with 2003 sales of $1.08 billion and operating profit of $82 million, includes the Porter-Cable, Delta, DeVilbiss Air Power, Oldham Saw and FLEX brands. The transaction is expected to close later this year after regulatory approval.

Pentair, based in Golden Valley, Minn., said the sale would allow it to focus on water filter-related products and ele

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