Reported Late Wednesday, ITT Acquires Danish Company Svanehøj For $395M
Portfolio Pulse from Benzinga Newsdesk
ITT Inc. has acquired Danish company Svanehøj for $395 million. Svanehøj, a supplier of pumps and related aftermarket services for the marine sector, will become part of ITT's Industrial Process segment. Svanehøj's products, which manage critical liquids for the energy transition, are widely regarded as the highest quality offering across most verticals.
November 02, 2023 | 6:56 am
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ITT Inc. has expanded its Industrial Process segment with the acquisition of Svanehøj. This could potentially enhance ITT's product portfolio and strengthen its position in the market.
The acquisition of Svanehøj, a company with a strong reputation in the marine sector, could potentially enhance ITT's product portfolio and strengthen its position in the market. This could lead to increased revenues and profitability in the future, which would likely have a positive impact on ITT's stock price in the short term.
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