Add-on Acquisition • Energy Services and Equipment

ITT Acquires Svanehoj

On November 1, 2023, ITT acquired energy services and equipment company Svanehoj for 395M USD

Acquisition Context

This is ITT’s 1st transaction in the Energy Services and Equipment sector.
This is ITT’s 5th largest (disclosed) transaction.
This is ITT’s 1st transaction in Denmark.

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M&A Deal Summary
Date	November 1, 2023
Target	Svanehoj
Sector	Energy Services and Equipment
Buyer(s)	ITT
Deal Type	Add-on Acquisition
Deal Value	395M USD

Target Company

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.

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Buyer Overview 1

Buyer

ITT

Stamford, Connecticut, United States

Category	Company
Founded	1920
Sector	Machinery
Employees	10,600
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 Context for Buyer	#
Overall	36 of 38
Sector: Energy Services and Equipment	1 of 1
Type: Add-on Acquisition	20 of 22
Country: Denmark	1 of 1
Year: 2023	2 of 2
Size (of disclosed)	5 of 11

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2023-05-03	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.	Buy	$80M

DATE

TARGET

DEAL TYPE

VALUE

2023-05-03

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.

Buy

$80M

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2024-07-01	Wolverine Advanced Materials Dearborn, Michigan, United States Wolverine Advanced Materials is a manufacturer of highly engineered critical automotive components and customized technology solutions for the energy, transportation and industrial markets. Wolverine Advanced Materials was founded in 1934 and is based in Dearborn, Michigan.	Sell	-

DATE

TARGET

DEAL TYPE

VALUE

2024-07-01

Wolverine Advanced Materials

Dearborn, Michigan, United States

Wolverine Advanced Materials is a manufacturer of highly engineered critical automotive components and customized technology solutions for the energy, transportation and industrial markets. Wolverine Advanced Materials was founded in 1934 and is based in Dearborn, Michigan.

Sell

Explore Related M&A Activity

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