ITT, the listed US engineering business with a Connecticut headquarters, has said more about its recent purchase of the Danish cryo marine pumps business Svanehøj Group.
CEO and President of ITT Luca Savi described Svanehøj as an “outstanding addition” to the business when the deal completed. On a recent earnings call he said he was “fortunate to join the Svanehøj integration kick-off” following the closure of the deal.
Savi said the two companies would come together and begin “executing our playbook, [with] both teams … excited, aligned, focused on the right priorities, and ready to hit the ground running.”
The expectation for 2024 is that Svanehøj will contribute about $160m of revenue to ITT’s sales, translating into an addition of up to $30m to the company’s bottom line.
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