ITT acquires Habonim, the leading supplier of industrial valves and actuators with annual sales of $44 million in 2021

WHITE PLAINS, NY–(BUSINESS WIRE)–4. April 20, 2022– ITT Inc. (NYSE: ITT) announced today that it has acquired privately held Habonim for US$140 million in a cash transaction. Habonim will become part of ITT’s Industrial Process (IP) segment. The acquisition closed in Q2 2022 and is expected to contribute to ITT’s consolidated EBITDA margin.

Based in Kfar HaNassi, Israel, Habonim is a leading designer and manufacturer of valves, valve automation and actuation for the gas distribution (including LNG), biotechnology and harsh service sectors. The Company’s highly differentiated business model allows for the commercialization of a majority of its products through distribution while maintaining relationships with end users. Habonim also sells directly to OEMs and integrators for custom solutions. The company has offices in Israel, the United States and the Netherlands and employs over 200 highly qualified professionals worldwide.

“Habonim is a great addition to the ITT portfolio,” said Luca Savi, ITT chief executive officer and president. “The company’s complementary ball valve offering and focus on harsh applications in attractive end markets will result in stronger long-term revenue growth for Industrial Process and ITT. Like ITT, Habonim has built strong, lasting relationships with its customers and end users based on consistent quality and their ability to provide highly technological solutions. The acquisition gives ITT access to new, attractive niche markets, expands IP’s existing portfolio of specialty valves, including its offering of cryogenic and hydrogen ball valves for green energy applications, and builds on an already strong distribution network in North America.”

“Joining ITT is a very important and exciting step for Habonim as we continue to grow and expand our global leadership in the high performance valve and automated valve markets,” said Ilan Gilboa, CEO of Habonim. “The global reach, expertise in the industrial process business, and shared, sophisticated approach to solving problems and creating value for our customers will allow us to move much faster and with greater impact as part of ITT. We look forward to starting the next chapter at Habonim.”

About ITT

ITT is a diversified leading manufacturer of highly engineered critical components and custom technology solutions for the transportation, industrial and energy markets. Building on its heritage of innovation, ITT works with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. ITT is headquartered in White Plains, NY with employees in more than 35 countries and sales in approximately 125 countries. Visit www.itt.com for more information.

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