ACQUISITIONS Acquisitions (Notes)

9 Months Ended

Sep. 27, 2025

Acquisitions [Abstract]

Business Combination [Text Block]

ACQUISITIONS AND DIVESTITURES

Acquisition of kSARIA

On September 12, 2024, we completed the acquisition of 100% of the privately held stock of kSARIA for a purchase price of $460.1, net of cash acquired and including deferred consideration of $4.5 expected to be paid in 2025. kSARIA is a leading manufacturer of mission-critical cable assembly and networking application solutions primarily for the aerospace and defense market. kSARIA is headquartered in New Hampshire, with approximately 1,000 employees across five manufacturing sites in the U.S. and one in Mexico. kSARIA and its acquired subsidiaries generated sales of approximately $175 in 2023. Subsequent to the acquisition, kSARIA’s financial results are reported within our CCT segment.

The assets acquired and liabilities assumed for the kSARIA acquisition were recorded at fair value and are shown in the table below, including final adjustments to the preliminary purchase price during the nine months ended September 27, 2025. The impact to the current period income statement resulting from the adjustments was not material.

Allocation of Purchase Price	Preliminary 12/31/2024		YTD 2025 Adjustment		Final 9/27/2025
Receivables	$	26.7	$	(0.3)	$	26.4
Inventory	48.0		(9.6)		38.4
Plant, property and equipment	9.4		(0.3)		9.1
Goodwill(a)	244.3		(0.8)		243.5
Other intangible assets	185.1		—		185.1
Other assets	10.3		(0.3)		10.0
Accounts payable and accrued liabilities	(28.5)		(2.0)		(30.5)
Other liabilities	(30.5)		11.6		(18.9)
Contract liabilities	(3.0)		—		(3.0)
Net assets acquired	$	461.8	$	(1.7)	$	460.1

(a)    Goodwill acquired with kSARIA is primarily attributable to the complementary nature of its product portfolio to ITT’s existing connectors portfolio and is not expected to be deductible for income tax purposes.

Acquisition of Svanehøj

On January 19, 2024, the Company completed the acquisition of 100% of the privately held stock of Svanehøj for a purchase price of $407.6, net of cash acquired of $28.0. Svanehøj is a Denmark-based supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector. Svanehøj employs approximately 400 employees and has operations in Denmark, Singapore and France. Svanehøj had sales of approximately $148 in 2023. Subsequent to the acquisition, Svanehøj’s financial results are reported within our IP segment.

Pro forma results of operations have not been presented because the acquisitions were not deemed significant as of the acquisition date.

Divestiture of Wolverine Business

In July 2024, the Company sold its Wolverine business, formerly part of the MT segment, for $171.0, recognizing a pre-tax gain of $47.8.