ITT Inc., a diversified manufacturer of critical components and technology solutions, announced today that it has completed its acquisition of Svanehøj Group A/S, a Danish company that specializes in pumps and services for low-emission and green fuels in the marine sector.

The deal, which was announced on Nov. 1, 2023, is valued at €300 million and will be funded by a term loan. Svanehøj will be integrated into ITT’s Industrial Process segment, which offers highly engineered pumps, valves and services for various industries.

Svanehøj has a strong product portfolio and a leading position in three of the four markets it serves, namely ammonia and LPG cargo pumps, LPG fuel pumps and LNG fuel pumps. The company also has a recognized aftermarket presence, with service capabilities for its own and third-party equipment.

Svanehøj was founded in 1928 and has operations in Denmark, Singapore and France. It employs about 400 people and generated ~$140 million in sales in 2022. About half of its sales are to customers in Europe, followed by Asia Pacific, the Americas and the rest of the world.

ITT is a global leader in engineering and innovation, with products and solutions for the transportation, industrial and energy markets. ITT is headquartered in Stamford, Connecticut, and has employees in more than 35 countries and sales in approximately 125 countries.

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