Aliaxis Group has sold Rheinhütte Pumpen to ITT Inc.
Corporate Finance International (‘CFI’) is pleased to announce that it acted as the exclusive corporate finance advisor to Aliaxis on the sale of Rheinhütte Pumpen to ITT Inc. (NYSE: ITT).
Rheinhütte Pumpen has a 160-year heritage and is regarded as a leading supplier of highly engineered pumps suited for the handling of aggressive media. Rheinhütte supplies special applications for chemicals, mining, renewable energies, and refinery processes. These include solutions for the production of sulphuric acid, fertilisers, and chlor-alkali electrolysis. The Group operates manufacturing and service locations in Germany, Brazil, the Netherlands, China and the United States. In 2018, Rheinhütte generated revenues of ca. EUR 60 million.
Aliaxis Group decided to divest this non-core activity. It found in ITT Inc. the ideal parent for Rheinhütte Pumpen to further accelerate its growth path and leverage the ability to be part of a group whose core business is pumps.
ITT Inc. is a diversified manufacturer of highly engineered critical components and customised technology solutions for the energy, transportation and industrial markets. The Group is headquartered in White Plains, N.Y., with employees in more than 35 countries. ITT generated revenues of USD 2.7 billion in 2018 with sales in approximately 125 countries. With this acquisition, ITT, Inc. is pursuing the strategy of adding a complementary portfolio of centrifugal pump technologies to the Industrial Process segment. The acquisition will bolster the Group’s presence in Europe with an expanded product range as well as enhanced pump engineering, manufacturing, testing and channel to market capabilities.
CFI was called in to assist Aliaxis and its investment bank Livingstone throughout the whole process of this rather complex carve-out transaction. CFI’s role was to assist in the vendor due diligence process, drafting of the business plan, preparation of the information memorandum and dataroom, monitoring current trading, actively participating in expert sessions and further negotiation sessions until closing.
The transaction was closed in February 2019.
This transaction was advised by:

Mario Van Gasse
Partner, Managing DirectorOur latest transactions
Real Estate & Construction

has been acquired by

Transaction details
Blue Bay Building Products has been acquired by Wolseley Group, a leading specialist provider of plumbing, heating, cooling, and utility products to trade customers
Food & Beverage & Agribusiness

has sold

to

Transaction details
Fleury Michon has sold Room Saveurs, a trading company and laboratory specialized in the development of meal trays, to Kumo
Industrials

has transferred the equity interests of its subsidiary

to

Transaction details
Maezawa Kyuso Industries has transferred the equity interests of Maezawa Kyuso (Nanchang) to Guangzhou Hongxing Investment Co., Ltd.
Software & IT Services

have sold

to
a portfolio company of

Transaction details
Companyweb, the leading provider of subscription-based credit information and private company data intelligence in Belgium, has been sold to Altares, a provider of B2B data solutions, servicing medium and large companies across the entire data value chain