Water technology manufacturer Xylem Inc. has agreed to acquire Cornell Pump and Roper Pump from industrial technology company Indicor for $1.46 billion, expanding its position in industrial and municipal pumping applications.

The businesses manufacture highly engineered pumping technologies used to move difficult-to-handle fluids, including systems for slurry transport, solids handling and demanding suction-lift applications. Their products also include patented self-priming technologies serving construction and mining, food and beverage, agriculture, energy and municipal markets.

Xylem said the acquisition will expand its capabilities in applications where industrial modernization and increasingly complex operating requirements are driving demand for reliability, process efficiency and specialized fluid-handling technologies. Cornell Pump and Roper Pump will become part of Xylem’s Water Infrastructure segment.

“The long-term demand drivers supporting our business continue to strengthen, creating new opportunities across industrial markets where water is increasingly critical to operational success,” Xylem President and CEO Matthew Pine said. “This acquisition expands our presence in key growth sectors and enhances our ability to help customers address evolving operational requirements.”

Cornell Pump and Roper Pump are expected to generate more than $260 million in combined revenue in 2026 with EBITDA margins above 30%. Xylem expects $23 million in run-rate cost synergies from the transaction and approximately $170 million in tax benefits. The $1.46 billion purchase price represents approximately 11.6x projected 2026 EBITDA after those anticipated synergies and tax benefits.

The transaction is expected to close during the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions.

Xylem, Washington, D.C., generated $9 billion in 2025 revenue and employs approximately 22,000 people.