ITT Acquires Matrix Composites

Matrix Composites will expand ITT Connect and Control Technologies core aerospace product and technology capabilities.

ITT Inc. (NYSE: ITT), White Plains, New York, has acquired Matrix Composites, Inc., Rockledge, Florida, a specialty aerospace component manufacturer. The transaction is valued at $29 million and was funded from the company's cash and is expected to be accretive in the first year. The transaction value includes an earnout and is subject to customary working capital adjustments.

Matrix specializes in the manufacture of precision composite components for next generation, high growth aircraft and aircraft engine platforms.

The acquisition aligns with ITT’s growth strategy focused on enhancing its product portfolio with innovative, technologically differentiated businesses. Matrix Composites will expand ITT Connect and Control Technologies’ core aerospace product and technology capabilities.

Related Posts

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.