M&A Deal Summary

ITT Acquires kSARIA

On August 1, 2024, ITT acquired aerospace company kSARIA from Behrman Capital for 475M USD

Acquisition Highlights
  • This is ITT’s 2nd transaction in the Aerospace sector.
  • This is ITT’s 2nd largest (disclosed) transaction.
  • This is ITT’s 21st transaction in the United States.
  • This is ITT’s 3rd transaction in Massachusetts.

M&A Deal Summary
Date 2024-08-01
Target kSARIA
Sector Aerospace
Buyer(s) ITT
Sellers(s) Behrman Capital
Deal Type Add-on Acquisition
Deal Value 475M USD
Advisor(s) Guggenheim Securities
BMO Capital Markets (Financial)
Goodwin Procter (Legal)

Target

kSARIA

Methuen, Massachusetts, United States
kSARIA brings extensive process technology and engineering expertise to the high-reliability connectivity industry, offering interconnect products and services with superior performance, quality and value. The Company’s product offering includes high-reliability optical fiber, expanded beam fiber optic, copper, and RF cable assemblies and harnesses. Additionally, the Company offers custom fiber optic flex circuits for avionic and backplane applications and it also provides complementary services such as cable assembly design, qualification testing, installation, training, and logistics management. kSARIA was formed in 2000 and is based in Methuen, Massachusetts.

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Buyer(S) 1

Buyer

ITT

Stamford, Connecticut, United States
Category Company
Founded 1920
Sector Machinery
Employees10,600
Revenue 3.3B USD (2023)
DESCRIPTION

ITT is a manufacturer of engineered critical components and customized technology solutions for growing industrial end-markets in energy infrastructure, electronics, aerospace, and transportation. ITT was founded in 1920 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 37 of 37
Sector (Aerospace) 2 of 2
Type (Add-on Acquisition) 21 of 21
State (Massachusetts) 3 of 3
Country (United States) 21 of 21
Year (2024) 1 of 1
Size (of disclosed) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-01 Svanehoj

Svenstrup, Denmark

Svanehoj is a supplier of pumps and related aftermarket services with positions in cryogenic applications for the marine sector. The company's product portfolio primarily consists of deep well gas cargo pumps, fuel and energy pumps, and tank control systems. These products manage critical liquids for the energy transition, including ammonia, liquefied petroleum gas (LPG), liquefied natural gas (LNG), methanol, hydrogen, and CO2. Svanehoj is based in Svenstrup, Denmark.

Buy $395M

Seller(S) 1

SELLER

Behrman Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Behrman Capital is a private equity firm focused on management buyouts, leveraged buildups and recapitalizations of established growth companies. Areas of interest include healthcare, defense, specialty manufacturing, business to business outsourcing, and information technology. Behrman looks to invest in the range from $25 to $125 million of equity capital in companies generating sales of $25 to $250 million. Behrman Capital was formed in 1991. The Firm is based in New York City with an additional office in San Francisco.

DEAL STATS #
Overall 23 of 23
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 7 of 7
State (Massachusetts) 3 of 3
Country (United States) 23 of 23
Year (2024) 1 of 1
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-10 Vista Apex

Racine, Wisconsin, United States

Vista Apex is a manufacturer of consumable dental products for preventative oral hygiene, endodontics, and restorative dentistry. Vista Apex was founded in 1997 and is based in Racine, Wisconsin.

Buy -
Mergr

Product

Company

Legal