ITT has announced that it has entered into a definitive agreement with Lone Star Funds to acquire SPX FLOW, including industrial, health and nutrition, for a total consideration of $4.775bn in cash and equity.
The acquisition of SPX FLOW adds critical equipment and adjacent flow and process technologies that extend ITT’s capabilities to address complex customer challenges across growing end markets with secular trends, including industrial, chemical, energy, mining, nutrition and health and personal care.
The US-based company brings premier brands and longstanding blue-chip customer relationships along with deep technical expertise and best-in-class aftermarket services for pumps, valves, mixers and other flow and process solutions.
In the trailing twelve-month period ended September 27th, 2025, SPX FLOW generated $1.3bn in revenue with approximately 42% gross margin and greater than 21% EBITDA margin (22% adjusted), with 43% aftermarket sales.
Upon close, SPX FLOW will join ITT’s Industrial Process (IP) segment.
IP is a global leader in centrifugal and twin-screw pumps and engineered valves with ~$1.4bn in revenue in 2024.
"The acquisition of SPX FLOW checks all the boxes," said Luca Savi, ITT’s CEO and President.
"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."
"The addition of SPX FLOW’s world-class, critical industrial equipment and flow technologies, including premier brands such as Waukesha Cherry-Burrell, Lightnin and Bran+Luebbe, enhances our ability to address complex customer challenges at even greater scale."
"ITT’s playbook of differentiation in execution and innovation, combined with SPX FLOW’s leading brands and engineering expertise, creates significant opportunity for long-term value creation."
"On behalf of ITT, I am truly honoured to partner with SPX FLOW’s talented team of approximately 3800 employees to better serve and work hard for our customers and our shareholders."
“Joining ITT marks the beginning of an exciting new chapter for our company," added Marc Michael, President and CEO, SPX FLOW.
"ITT’s world-class Industrial Process businesses are a natural fit for SPX FLOW’s market-leading industrial, health and nutrition brands."
"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, resulting in exceptional business performance."
The acquisition of SPX FLOW represents a milestone in ITT’s 2030 vision, aligns with ITT’s overall strategy, creates value through compounding with M&A and accelerates its portfolio reshaping.
Deploying ITT’s acquisition playbook, the company estimates an $80m run rate of cost synergies by the end of year three post-close, with the transaction expected to be immediately accretive to ITT's gross margin and adjusted EBITDA margin, with adjusted EPS accretion in 2026 and double digits anticipated in the first full year post-close, excluding amortisation of intangibles.