ITT to acquire SPX FLOW from Lone Star Funds for $4.78bn.

ITT, a provider of highly engineered critical components and manufacturer of innovative technologies, agreed to acquire SPX FLOW, a provider of highly engineered equipment and process technologies, from Lone Star Funds, an investment firm, for $4.78bn. “The acquisition of SPX FLOW checks all the boxes. 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 like 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 honored to partner with SPX FLOW’s talented team of approximately 3,800 employees to better serve and work hard for our customers and our shareholders,” Luca Savi, ITT CEO and President.