Aliaxis Group säljer den tyska industripumpvarumärket Rheinhütte Pumpen till amerikanska ITT
Livingstone’s Industrial sector team has successfully advised Aliaxis Group S.A. on the sale of Rheinhütte Pumpen Group to ITT, Inc (NYSE: ITT) as the exclusive M&A adviser. The transaction has been closed as per 30th of April 2019.
Rheinhütte has a 160-year heritage and is regarded as a leading supplier of highly engineered pumps suited for the handling of aggressive media. Rheinhütte supplies special applications for chemicals, mining, renewable energies, and refinery processes. These include solutions for the production of sulphuric acid, fertilisers, and chlor-alkali electrolysis. As a true solutions provider, the Group offers a comprehensive range of specialist pumps built from metal, plastic and ceramics to provide the best solution for individual customer applications. The Group operates manufacturing and service locations in Germany, Brazil, the Netherlands, China and the United States. In 2018, Rheinhütte generated revenues of ~ EUR 60 million.
This divestment is in line with Aliaxis’ strategy to explore new paths for non-core activities and with the new Partner IIT Inc. Rheinhütte Pumpen joins an ideal parent, which will enable the company to further accelerate its growth path and leverage the ability to be part of a Group whose core business is pumps.
ITT Inc. is a diversified manufacturer of highly engineered critical components and customised technology solutions for the energy, transportation and industrial markets. The Group is headquartered in White Plains, N.Y., with employees in more than 35 countries. ITT generated revenues of USD 2.7 billion in 2018 with sales in approximately 125 countries. With this acquisition, ITT, Inc. is pursuing the strategy of adding a complementary portfolio of centrifugal pump technologies to the Industrial Process segment. The acquisition will bolster the Group’s presence in Europe with an expanded product range as well as enhanced pump engineering, manufacturing, testing and channel to market capabilities.
“We are pleased that we have successfully supported Aliaxis in this rather complex carve-out transaction. With ITT as owners, they form a very strong global player for highly engineered pumps focused on the handling of aggressive media. Thereby, our mission to find a good home for Rheinhütte Pumpen Group has been fulfilled,” says Ralph Hagelgans, Partner at Livingstone.
