ITT to acquire SPX FLOW from Lone Star Funds for $4.775bn.

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 $4.775bn. “The sale of SPX FLOW marks the culmination of several years of hard work to streamline its portfolio and enhance the business. The company’s leadership team has done an excellent job of implementing a plan that targeted areas for successful growth, while improving the company’s commercial operations and product set. Together, ITT and SPX FLOW will have a unique opportunity to accelerate value creation across both organizations, and we are excited to participate in that next phase of growth," Donald Quintin, Lone Star CEO.