Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, August 16, 2024

Article Excerpt

ITT INC., $135.04, symbol ITT on New York, manufactures highly engineered critical components and customized technology solutions primarily for the transportation, industrial and energy markets. It operates in three primary segments: Motion Technologies (44% of revenue), Industrial Process (34%), and Connect & Control Technologies (22%). Geographically, the company generates revenue from North America (42%), Europe (32%), Asia (17%), and elsewhere (9%). ITT continues to reshape its portfolio of business to diversify and focus on higher-growth markets. On January 19, 2024, the company completed its acquisition of Svanehoj. This Danish company is a supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector. Its product portfolio primarily consists of deep-well, gas cargo pumps; fuel and energy pumps; and tank control systems. These products manage critical liquids for energy transition processes. Those liquids include ammonia, liquefied petroleum gas (LPG), liquefied natural gas (LNG), methanol, hydrogen and CO2. ITT paid $395 million for Svanehoj. That firm has annual revenue of…