Of the five original founders, one had passed away while three more had pulled out. This venture also met with less than expected sales. They acquired a local vacuum-forming business shortly thereafter and set about making canoes. Originally, they intended to manufacture high altitude research balloons, but they found sales to be less than expected. The 5 founders were all formally employed by Litton Industries. Pentair was founded in August 1966 as Pentair Industries, Inc., with the name derived from the Greek root word "penta-" (alluding to the company's five founders) and "air" (alluding to the company's original product), and went public several months later. Its fiscal year 2021 revenues were US$3.8 billion and it employs approximately 11,250 people worldwide. Now the company's primary focus is on residential, commercial, industrial, municipal and infrastructure and agriculture applications. On April 30, 2018, PNR announced that it had completed the separation of its Water and Electrical businesses. PNR was reorganized in 2014, shifting the corporate domicile from Switzerland to Ireland. Pentair was founded in the US, with 65% of company's revenue coming from the US and Canada as of 2017. Pentair plc ( PNR) is an American water treatment company incorporated in Ireland with tax residency in UK, with its main U.S.
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