ITT Inc. (NYSE: ITT), White Plains, New York, has completed the acquisition of Rheinhütte Pumpen Group, a market-leading designer and manufacturer of centrifugal and axial flow pumps, from Aliaxis Group S.A. Terms of the transaction were not disclosed.
The acquisition aligns with ITT’s focused growth strategies in target markets and provides the company’s Industrial Process segment with a complementary portfolio of pump technologies suited to corrosive, abrasive and high-temperature environments. The acquisition also bolsters IP’s presence in Europe through enhanced pump engineering, manufacturing, testing and channel to market capabilities.
Rheinhütte solutions serve specialty applications for the chemical, mining, renewable energy and refinery processes and include solutions for sulfuric acid, molten sulfur, fertilizer and chlorine-alkali electrolysis production, among others.
“We look forward to bringing together two companies with deep application expertise in the industrial process space,” said ITT CEO and President Luca Savi. “We plan to leverage this acquisition to deliver better solutions for our customers and to provide Rheinhütte Pumpen with new opportunities to further grow their capabilities and worldwide presence.”