ITT to acquire Svanehøj

The deal, which is expected to close early next year, will bring Svanehøj into ITT’s industrial processes segment which focuses on pumps, valves and aftermarket.

“Svanehøj is an outstanding addition to ITT, with extensive experience in the marine pumps industry and a complementary portfolio of highly engineered flow products aligned to the energy transition,” said Luca Savi, chief executive and president of ITT.

Headquartered in Svenstrup, Denmark, Svanehøj supplies pumps for the marine sector, particularly cryogenic ones. Its portfolio primarily comprises deepwell gas cargo pumps, fuel and energy pumps and tank control systems suitable for a range of liquids including ammonia, liquefied petroleum gas, liquefied natural gas, methanol, hydrogen and CO2.

“This is very good news for Svanehøj and our employees, and we are proud to become a part of the ITT family,” said Svanehøj chief executive Søren Kringelholt Nielsen.

“We see ITT as an ideal match for us, and the perfect platform to accelerate the continued growth and development of Svanehøj’s market-leading, innovative and future-proof pump solutions.

Founded in 1928, Svanehøj employs around 400 workers and has operations in Denmark, Singapore and France. Approximately half of its annual sales – around US$140 million (€131 million) in 2022 – are to customers in Europe, followed by Asia Pacific, the Americas and the rest of the world.