M&A Deal Summary

ITT Acquires SPX Flow

On December 5, 2025, ITT acquired manufacturer SPX Flow from Lone Star Funds for 4.8B USD

Acquisition Highlights
  • This is ITT’s 5th transaction in the Manufacturing sector.
  • This is ITT’s largest (disclosed) transaction.
  • This is ITT’s 22nd transaction in the United States.
  • This is ITT’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2025-12-05
Target SPX Flow
Sector Manufacturing
Buyer(s) ITT
Sellers(s) Lone Star Funds
Deal Type Add-on Acquisition
Deal Value 4.8B USD

Target

SPX Flow

Charlotte, North Carolina, United States
SPX Flow solves processing challenges, helping customers lower costs, increase uptime, save energy, reduce waste, and improve quality. The company's product offering is concentrated in process technologies that perform mixing, blending, fluid handling, separation, thermal heat transfer, and other activities that are integral to processes performed across a wide variety of nutrition, health, and precision solutions markets. SPX Flow was founded in 2015 and is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

ITT

Stamford, Connecticut, United States

Category Company
Founded 1920
Sector Machinery
Employees10,600
Revenue 3.6B USD (2024)
DESCRIPTION

ITT manufactures 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 38 of 38
Sector: Manufacturing M&A 5 of 5
Type: Add-on Acquisition M&A Deals 22 of 22
State: North Carolina M&A 1 of 1
Country: United States M&A 22 of 22
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-01 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.

Buy $475M

Seller(S) 1

SELLER

Lone Star Funds

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 95.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lone Star Funds is a global private investment firm focused on investing across several strategies. The Firm's primary investment activity surrounds financial services and real estate. Lone Star generally looks to acquire distressed debt and equity assets including corporate, commercial real estate, single family residential and consumer debt products as well as banks and asset rich operating companies. Lone Star was formed in 1995 and is based in Dallas, Texas with additional offices across Western Europe and Asia.


DEAL STATS #
Overall 20 of 20
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 8 of 8
State: North Carolina M&A 1 of 1
Country: United States M&A 8 of 8
Year: 2025 M&A 3 of 3
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-20 Xella

Duisburg, Germany

Xella is an international solution provider in the field of building and insulation materials. It is the parent company of such well-known brands as Ytong, Silka, Hebel, and Multipor, and is a pioneer in digitally supported construction processes with its digital planning service blue.sprint. Xella is based in Duisburg, Germany.

Sell €1.9B