ITT To Acquire Aerospace Contacts For $31 Mln

ITT Inc. agreed to acquire privately held Aerospace Contacts LLC for $31 million. The deal adds to ITT’s aerospace-related specialty components business and is a modestly positive strategic bolt-on transaction. The announcement is unlikely to materially move the broader market but may support sentiment toward ITT’s growth and portfolio expansion.

Analysis

ITT Inc. agreed to acquire privately held Aerospace Contacts LLC for $31 million. The deal adds to ITT’s aerospace-related specialty components business and is a modestly positive strategic bolt-on transaction. The announcement is unlikely to materially move the broader market but may support sentiment toward ITT’s growth and portfolio expansion.