Connecticut-based manufacturing company ITT Inc. has completed the acquisition of marine pump specialist Svanehøj Group A/S (Svanehøj).
First announced in November 2023, the purchase was valued at approximately ~$395m and is primarily funded through a €300m term loan.
As part of ITT, Svanehøj will be integrated into the company’s industrial process segment, which focuses on engineered pumps, valves, and aftermarket services.
Founded in 1928, Svanehøj currently has around 400 employees, with operations in Denmark, Singapore, and France. Around half of its annual sales are to customers in Europe.
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