M&A Deal Summary

ITT Acquires Micro-Mode

On May 3, 2023, ITT acquired technology hardware company Micro-Mode for 80M USD

Acquisition Highlights
  • This is ITT’s 1st transaction in the Technology Hardware sector.
  • This is ITT’s 10th largest (disclosed) transaction.
  • This is ITT’s 20th transaction in the United States.
  • This is ITT’s 4th transaction in California.

M&A Deal Summary
Date 2023-05-03
Target Micro-Mode
Sector Technology Hardware
Buyer(s) ITT
Deal Type Add-on Acquisition
Deal Value 80M USD

Target

Micro-Mode

El Cajon, California, United States
Micro-Mode is a specialty designer and manufacturer of high-bandwidth Radio Frequency (RF) connectors for harsh environment defense and space applications. Micro-Mode is based in El Cajon, California.

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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 35 of 37
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 19 of 21
State (California) 4 of 4
Country (United States) 20 of 21
Year (2023) 1 of 2
Size (of disclosed) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-10 Clippard - Cylinder Product Line

Cincinnati, Ohio, United States

Clippard's Cylinder Product Line product lines of durable, low maintenance, and cost-competitive interchangeable pneumatic cylinders. The product lines include stainless steel, brass, and aluminum cylinders and volume tanks. Clippard's Cylinder Product Line is based in Cincinnati, Ohio.

Buy -
FOLLOWING 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
Mergr

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