STAMFORD, Conn. – ITT Inc. has announced it has entered into a definitive agreement with Lone Star Funds to acquire SPX FLOW, a leading provider of highly engineered equipment and process technologies for attractive end markets including industrial, health and nutrition, for a total consideration of $4.775 billion in cash and equity. This represents 14.2x SPX FLOW’s forecasted full year 2026 adjusted EBITDA, or 11.5x includingnexpected cost synergies.
NEWS
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HOUSTON – DXP Enterprises, Inc. has announced that it has completed the acquisition of Pump Solutions, Inc. (“Pump Solutions”). Founded in 1999, Pump Solutions is headquartered in New Caney, Texas, and operates out of four locations servicing Texas.
LUBBOCK, Texas – Lubbock, Texas-based SIMFLO has announced significant operational advancements, including major upgrades to its Arizona pump testing facility, the opening of a new quality control center in Lubbock and the launch of a new corporate website.
Plymouth Meeting, PA – Cooney Brothers announced the upcoming retirement of Vice President and Head of Inside Sales William E. Cooney IV, whose nearly five decades of service have left a lasting impact on the company’s culture, customers and community. As Cooney prepares to pass the torch, inside sales leadership is already transitioning, with Matt Long stepping into the inside sales manager role.
COSTA MESA, Calif. – The Cla-Val company has promoted Jake Corzine to sales director for the Americas, in charge of the USA, Canada and Latin America. He will be managing a team of over 60 people.
This new position follows a previous promotion 6 years ago when Corzine became the youngest person in the company’s history to be promoted to western regional manager, a role that expanded and thrived under his leadership.
REDDING, Calif. – AqueoUS Vets (AV) has appointed Harland Pond as vice president of sales.
AUSTIN, Texas – Infinitum has announced the appointment of Kevin Paprzycki as chief financial officer.
STAMFORD, Conn. – ITT Inc. has announced the completion of the second phase of a planned approximately $25 million expansion of its Industrial Process (IP) manufacturing facility in Dammam, Saudi Arabia. This expansion doubles ITT’s capacity and strengthens its position as a preferred supplier to Middle East customers.
HOUSTON – DXP Enterprises, Inc. has announced that it has completed the acquisition of Triangle Pump & Equipment, Inc. Founded in 1975, Triangle is headquartered in Ridgefield, Washington.
GREENSBORO, N.C. – Tencarva Machinery Company has announced that Executive Vice President Henry Ritchie is being promoted to president. Former President Ed Pearce will become the company's chairman and will continue to lead strategic initiatives. Tencarva is backed by Bessemer Investors, LLC, a New York-based investment firm.