White Plains-based ITT Inc. has completed its $91.3 million acquisition of Rheinhütte Pumpen Group, a German designer and manufacturer of centrifugal and axial flow pumps, from Aliaxis Group S.A., a Belgian designer and manufacturer of plastic fluid handling solutions.
Rheinhütte has been operating since 1857 and offers specialty applications for the chemical, mining, renewable energy and refinery processes, as well as solutions for sulfuric acid, molten sulfur, fertilizer and chlorine-alkali electrolysis production. The company has approximately 430 employees and three main manufacturing locations, and generated $68.6 million in revenue during 2018.
“We look forward to bringing together two companies with deep application expertise in the industrial process space,” said ITT CEO and President Luca Savi. “We plan to leverage this acquisition to deliver better solutions for our customers and to provide Rheinhütte Pumpen with new opportunities to further grow their capabilities and worldwide presence.”
