ITT completes acquisition of Svanehoj

ITT announced the completion of its acquisition of Svanehoj Groupm a supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector. ITT previously announced the acquisition on Nov. 1, 2023. The acquisition will be primarily funded through a EUR300M term loan entered into on Jan. 12, 2024. The business will be integrated into ITT’s Industrial Process segment, a global flow leader focused on highly engineered pumps, valves and aftermarket services.