.
MergerLinks Header Logo

Announced

Warburg Pincus to acquire InTelCo Management from ITT.

Financials

Edit Data
Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

Edit

United States

insurance assets

Friendly

Acquisition

Domestic

Private

Single Bidder

Private Equity

Majority

Full Line Insurance

Pending

Synopsis

Edit

Warburg Pincus, a global private equity firm, agreed to acquire InTelCo Management, a wholly owned subsidiary that holds long-term liabilities including asbestos liabilities and related insurance assets, from ITT, an American worldwide manufacturing company. Financial terms were not disclosed. "Today’s announcement represents the culmination of our multi-year strategy to reduce ITT’s legacy liability profile. This transaction, along with our successful U.S. pension plan termination executed in October 2020, position us very favorably for future growth and capital flexibility," Luca Savi, ITT President and CEO.

© COPYRIGHT 2024 MERGERLINKS LIMITED.

ALL RIGHTS RESERVED.

15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.

CONTACT US