ITT Inc. ITT has inked a deal to acquire Aerospace Contacts LLC (Aerospace Contacts). The transaction was valued at approximately $31 million in total.
Based in Gilbert, AZ, Aerospace Contacts is engaged in producing metal contact components for aerospace and defense applications. The company was established in 1999 and it employs about 140 personnel. It has been a long-term supplier to ITT Cannon within the Connect & Control Technologies (CCT) segment.
Acquisition Rationale of ITT
The latest acquisition aligns with ITT’s strategy of acquiring businesses to expand its market share and customer base. The acquisition of Aerospace Contacts is expected to strengthen the company’s supply chain, enhance its aerospace and defense product offerings and boost its manufacturing and engineering capabilities. The transaction is also anticipated to support long-term growth by broadening ITT’s portfolio of interconnect solutions.
ITT will integrate Aerospace Contacts into its CIT segment. The deal is expected to close in the third quarter of 2026, subject to customary closing conditions.
Other Notable Acquisitions
Acquisitions are an essential aspect of ITT’s growth strategy. ITT acquired SPX FLOW in March 2026. The acquisition enhances the company’s capabilities in mixing, fluid handling and thermal solutions. SPX FLOW has been added to the Flow Technologies segment.
In September 2024, ITT acquired kSARIA Parent, Inc. The acquisition will enhance its portfolio of connectivity solutions for the defense and aerospace end markets, technological capabilities and market reach, driving growth and operational efficiency.
Zacks Rank and Price Performance
ITT currently carries a Zacks Rank #2 (Buy).
The company is benefiting from solid momentum in the Flow Technologies segment, which is gaining from an increase in demand for parts, pumps, services and valves. ITT’s innovation investments are also likely to support its growth.
In the past year, the stock rose 28.8% against the industry’s 0.9% decline.
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This article originally published on Zacks Investment Research (zacks.com).