ITT to acquire Svanehoj for $395M

ITT Inc “announced it has signed an agreement to acquire privately held Svanehoj Group A/S for about $395M. The transaction is expected to close in the first quarter of 2024, subject to the receipt of customary regulatory approvals. Svanehoj will become part of ITT‘s Industrial Process segment, a global leader in flow focused on highly engineered pumps, valves and aftermarket services. Headquartered in Svenstrup, Denmark, Svanehoj is a supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector. Its product portfolio primarily consists of deepwell gas cargo pumps, fuel and energy pumps and tank control systems. These products manage critical liquids for the energy transition, including ammonia, liquefied petroleum gas, liquefied natural gas, methanol, hydrogen and CO2, and are widely regarded as the highest quality offering across most verticals. Svanehoj also has an established global aftermarket business to service its large installed base and is capable of servicing third-party equipment as well.”