ITT Inc (ITT) Completes Acquisition of kSARIA

ITT Inc. (NYSE: ITT) today announced the completion of its acquisition of kSARIA Parent, Inc. (kSARIA), a leading producer and supplier of mission-critical connectivity solutions for the defense and aerospace end markets. ITT previously announced the acquisition on Aug. 1, 2024. The acquisition will be funded through a combination of a ~$460 million term loan entered into today and cash on hand.

kSARIA produces highly engineered cable assemblies for avionics, sensors, communications and networking applications that are highly complementary to ITT’s existing connector portfolio. It operates in a nearly $7 billion addressable North American defense market that is expected to grow at a high-single digit CAGR through 2028, and nearly 70% of its positions are sole or primary source. With its proprietary engineering and manufacturing capabilities, existing positions on coveted platforms and long-standing relationships with leading customers, kSARIA is well-positioned to benefit from global defense build-up, including investments in new platforms, electronic system upgrades and soldier modernization.

Headquartered in Hudson, New Hampshire, kSARIA has approximately 1,000 employees across six manufacturing sites in North America. It generated approximately $175 million in sales in 2023. kSARIA is now part of ITT’s Connect & Control Technologies segment, a producer of harsh environment connectors and control components used in critical aerospace, defense and industrial applications.

You May Also Be Interested In

• Real and RE/MAX Holdings receive court approval for merger
• UBS Upgrades Apollo Tyres (APTY:IN) to Buy
• Nuvectis Pharma (NVCT) files $200M mixed shelf