ITT Boosts Product Portfolio With the Acquisition of kSARIA

Acquisition Overview - ITT Inc. has completed the acquisition of kSARIA Parent, Inc. for approximately $460 million, financed through a new term loan and existing cash [1] - kSARIA specializes in high-quality cable management and protection solutions, including turnkey installation services for military and aerospace applications [2] Strategic Rationale - The acquisition aligns with ITT's strategy to strengthen its business and expand its product portfolio and market share [3] - kSARIA's engineered cable assemblies will enhance ITT's existing connector portfolio, allowing for better penetration in key markets [3] Integration and Segment Impact - kSARIA will be integrated into ITT's Connect & Control Technologies (CCT) segment [4] Previous Acquisitions - ITT has made several notable acquisitions, including Svanehøj Group A/S for $395 million in January 2024, which expanded its marine pumps offerings [5] - The acquisition of Micro-Mode Products, Inc. in May 2023 enhanced ITT's product portfolio for defense programs and its North America connectors platform [5] - The acquisition of Clippard Instrument Laboratories' product lines in August 2022 expanded ITT's automation product range [6] Financial Performance - The acquisitions of Svanehøj and Micro-Mode contributed to a 4% increase in ITT's sales growth in Q2 2024 [6] - ITT's shares have gained 37% over the past year, significantly outperforming the industry growth of 0.4% [7] - The company is experiencing growth in its Industrial Process segment due to pump projects in the energy market and increased sales in aerospace and defense [7]