ITT to buy Godwin Pumps

Leading submersible pump group 1740 ITT has announced that it has agreed a deal for US$585million to acquire automatic self-priming pump specialist 627 Godwin Pumps. The deal, which is subject to regulatory approval, is expected to be completed in the third quarter of this year.

"This acquisition is another example of ITT's strategy to expand our core businesses and build on our strong global positions in water, wastewater and industrial process," said ITT's Fluid and Motion Control group president Gretchen McClain. "Godwin's business is a great complement to our existing fluid technology portfolio, and is expected to establish ITT among the leaders in the growing and profitable US$3billion global market for dewatering pumps and rental services."

Godwin Pumps, founded in 1976, has approximately 800 employees located throughout the US and at its manufacturing facility in Gloucestershire, UK. The company operates a US rental fleet of more than 6,000 pumps at 26 equipment rental facilities and a network of approximately 50 distributors worldwide.