ITT Inc. has completed the acquisition of Svanehøj Group A/S (Svanehøj), a supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector.
The acquisition will be primarily funded through a €300 million term loan. The business will be integrated into ITT’s Industrial Process segment, a global flow leader focused on highly engineered pumps, valves and aftermarket services.
Svanehøj’s product portfolio primarily consists of deepwell gas cargo pumps, fuel and energy pumps and tank control systems for low-emission and green fuels. The company holds a leadership position in three of the four verticals in which it operates, including ammonia and LPG cargo pumps, LPG fuel pumps and LNG fuel pumps. Svanehøj is also a recognised aftermarket provider because of its service capabilities for its large installed base and third-party equipment maintenance.