ITT to Acquire SPX FLOW, Strengthening Its Lead in Engineered Components and Flow Technology

• Integrates core and adjacent flow technologies, reinforcing market leadership in critical applications.
• Broadens ITT’s footprint in industrial, chemical and energy sectors while adding high‑growth health and nutrition segments.
• SPX FLOW contributed $1.3 billion in sales and generated EBITDA margins above 21 % (22 % adjusted) over the trailing twelve months, providing a resilient, high‑margin revenue stream.
• After‑market sales represent 43 % of SPX FLOW’s revenue, effectively doubling the Industrial Process segment’s after‑market business.
• Cost‑synergy run‑rate is projected at $80 million by the end of year three, with additional revenue upside from cross‑selling ITT’s engineering expertise.
• The transaction is expected to be immediately accretive to ITT’s gross‑margin and adjusted EBITDA, with EPS accretion beginning in 2026 and double‑digit growth in the first full year after close, excluding amortization of intangibles.

STAMFORD, Conn. — ITT Inc. (NYSE: ITT), a leading manufacturer of highly engineered critical components and technology solutions, announced a definitive agreement to acquire SPX FLOW, a premier provider of engineered equipment and process technologies for industrial, health and nutrition markets. The transaction is valued at $4.775 billion in cash and equity, equivalent to 14.2 times SPX FLOW’s projected 2026 adjusted EBITDA, or 11.5 times when anticipated cost synergies are included.

The acquisition adds a suite of flow‑control and process‑technology assets that expand ITT’s ability to address complex customer challenges across growing end markets such as chemicals, energy, mining, nutrition, and personal care. SPX FLOW brings well‑established brands and long‑standing relationships with blue‑chip customers, plus deep expertise in pumps, valves, mixers and related after‑market services. In the twelve months ending September 27 2025, SPX FLOW recorded $1.3 billion in revenue, a 42 % gross‑margin, and EBITDA margins exceeding 21 % (22 % adjusted), with after‑market sales accounting for 43 % of total revenue. Upon closing, SPX FLOW will be integrated into ITT’s Industrial Process (IP) segment, which generated roughly $1.4 billion in 2024 and is a global leader in centrifugal and twin‑screw pumps and engineered valves.

“The SPX FLOW acquisition checks all the boxes for ITT,” said Luca Savi, President and CEO of ITT. “It strengthens our core engineering capabilities, adds adjacent technologies, expands our addressable market, and aligns culturally. The combined portfolio of world‑class brands such as Waukesha Cherry‑Burrell, Lightnin ® and Bran+Luebbe ® positions us to solve increasingly complex customer problems at scale.”

Marc Michael, President and CEO of SPX FLOW, added, “Joining ITT creates a natural fit for our industrial, health and nutrition businesses. Leveraging ITT’s global scale will enable us to deliver innovative process solutions that drive superior performance for our customers.”

The deal fits squarely within ITT’s 2030 strategic vision, which emphasizes portfolio reshaping through disciplined M&A, operational excellence, and technology leadership. ITT expects $80 million of annual cost synergies by the end of the third year after close, while maintaining an investment‑grade credit profile with net leverage projected below 3.0 × and under 2.0 × within 18 months post‑close.

Transaction structure and timing

The purchase price consists of cash and $700 million of newly issued ITT common stock payable to Lone Star Funds. The cash component will be funded through a mix of debt and equity, supported by a term‑loan and bridge‑loan facility led by U.S. Bank National Association. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close by the end of Q1 2026.

Advisors

Goldman Sachs and UBS served as financial advisors to ITT, while Paul Hastings acted as legal counsel.

Strategic and technical implications

From a technical standpoint, the integration of SPX FLOW’s advanced mixing and separation platforms with ITT’s pump and valve expertise creates a full‑stack solution for high‑pressure, high‑temperature processes—a capability increasingly demanded by the chemical and renewable‑energy sectors. The combined R&D pipeline is poised to accelerate development of digitalized process controls, leveraging IoT sensors and AI‑driven analytics to improve energy efficiency and reduce downtime. This aligns with industry trends toward sustainable manufacturing and offers cross‑selling opportunities across ITT’s existing customer base.

Financially, the high‑margin after‑market business serves as a buffer against cyclicality in capital‑intensive equipment sales. The larger scale also enhances bargaining power with raw‑material suppliers and enables more favorable financing terms for future growth initiatives. Competitors such as Flowserve and Alfa Laval may face heightened pressure as the enlarged ITT entity captures a larger share of the global flow‑control market, which is projected to grow at a 5 % compound annual growth rate through 2030.

Safe harbor statement

This release contains forward‑looking statements regarding the acquisition, expected synergies and financial impact, which are subject to risks and uncertainties, including integration challenges, market conditions, regulatory approvals and macro‑economic factors. Actual results may differ materially from those expressed or implied in these statements.