ITT Inc. has reached an agreement to acquire SPX FLOW in a deal worth nearly $4.8 billion, company officials announced Friday.
The Connecticut-based engineered components supplier will purchase the North Carolina-based pump and process technology company from private equity owner Lone Star Funds with cash, as well as $700 million in ITT common stock that will be issued to the firm. Lone Star acquired SPX FLOW in early 2022.
ITT officials said that adding SPX FLOW’s equipment, flow and process capabilities would help it address "complex customer challenges” across a range of end markets, including the industrial, chemical, energy and mining sectors. The proposed addition also offers "premier brands,” "blue-chip customer relationships,” technical expertise and “best-in-class” aftermarket services for pumps, valves, mixers and other solutions.
"The acquisition of SPX FLOW checks all the boxes,” ITT President and CEO Luca Savi said in a statement. "It builds on our core strength in highly engineered components, brings adjacent technologies to the core, expands our total addressable market, it is well run, and, to top it off, is an outstanding cultural fit.”
"ITT’s world-class Industrial Process businesses are a natural fit for SPX FLOW’s market-leading industrial, health and nutrition brands,” added SPX FLOW President and CEO Marc Michael. "By leveraging our joint global capabilities, we can provide customers with the technology, engineering and operational capabilities to create innovative solutions for their process needs.”
The deal is expected to close by the end of the first quarter of 2026, subject to regulatory approval and other closing conditions.
