ITT To Purchase Nova Analytics
"This acquisition fits perfectly with ITT's strategy to expand into categories adjacent to our core businesses and build on our global leadership positions in water, wastewater and industrial process, and products for the food & beverage market," says Gretchen McClain, president of ITT Fluid and Motion Control group. "Nova offers ITT a collection of leading brands and technologies, robust distribution, and a strong platform in the $6 billion analytical instrumentation market from which to establish a new growth platform for the corporation."
McClain sees the acquisition as a natural extension of ITT's $4.7 billion Fluid and Motion Control business, with presence in more than 130 countries and established brands including Flygt, Sanitaire, Jabsco, Totten, Goulds, Bell & Gossett, Lowara, WEDECO, Royce and Leopold.
The transaction is expected to close within the first quarter of 2010, pending customary regulatory approvals.
For more information, visit: http://www.itt.com