Corporate investor Nelson Peltz’s activist investment fund Trian has secured a seat on the board of UK-based industrial group Penetair, global manufacturer of pumps, pipes and valves used in the energy, agriculture, infrastructure and food sectors. While the company is based in Manchester, it is nonetheless listed on the New York Stock Exchange.
Nelson Peltz is one of the world’s most famed corporate raiders. In August Pentair agreed to buy fastening products maker Erico Global for $1.8 billion in cash, just weeks after Trian asked the company to go on an acquisition spree in an attempt to consolidate the fragmented pump and valve sector. Activist investor Trian was founded a decade ago by Nelson Peltz, Ed Garden and Peter May with a remit to invest in quality but undervalued public companies, and to agitate for change intended to deliver returns to shareholders.