ITT Inc. has entered into a definitive agreement with Lone Star Funds to acquire SPX FLOW for a consideration of $4.8 billion. This represents 14.2x SPX FLOW’s forecasted full year 2026 adjusted EBITDA, or 11.5x including expected cost synergies.
ITT is a provider of engineered critical components and a manufacturer of innovative technologies. The move will significantly expand its leadership position in engineered components and adjacent flow technologies.
The acquisition was made in cash and equity, and will extend ITT’s capabilities to address complex customer challenges across growing end markets with secular trends. These include industrial, chemical, energy, mining, nutrition and health, and personal care.
SPX Flow brings premier brands and longstanding blue-chip customer relationships with deep technical expertise. It also possesses established aftermarket services for pumps, valves, mixers and other flow process solutions.
In the trailing twelve-month period ended Sept. 27, 2025, SPX FLOW generated $1.3 billion 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. This is one of the global leaders in centrifugal and twin-screw pumps and engineered valves with $1.4 billion in revenue in 2024.
The acquisition of SPX FLOW represents a milestone in ITT’s 2030 vision. It aligns with ITT’s overall strategy, creates value through compounding with M&A, and accelerates its portfolio reshaping.
The transaction is subject to customary closing conditions. This includes the receipt of applicable regulatory approvals, and is expected to close by the end of Q1 2026.