Connecticut-based manufacturing company ITT Inc. has signed an agreement to acquire marine pump specialist Svanehøj Group A/S (Svanehøj) for ~$395m.
Under terms of signed deal, Svanehøj will become part of ITT’s Industrial Process (IP) segment, a business arm focused on pumps, valves and aftermarket services.
Headquartered in Svenstrup, Denmark, Svanehøj is a supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector.
The company’s products manage critical liquids for the energy transition, including ammonia, liquefied petroleum gas (LPG), liquefied natural gas (LNG), methanol, hydrogen, and CO2.
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