Livingstone advises on cross-border divestiture of global leading pump manufacturer

Advised Aliaxis Group on divestment of Rheinthütte Pumpen to ITT Inc.
  • Feb 2019
  • Industrial
  • M&A: Sell-Side
  • Germany
  • US
  • Trans-Atlantic
  • DIVESTMENT

Livingstone’s industrial team is pleased to announce it has successfully advised Aliaxis Group S.A. on its divestment of Rheinhütte Pumpen (“Rheinhutte” or “The Company”) to ITT Inc (NYSE: ITT).

Rheinhütte 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, fertilizers, and chlor-alkali electrolysis.

As a true solutions provider, the Group offers a comprehensive range of specialist pumps built from metal, plastic, and ceramics to provide the best solution for individual customer applications. The Group operates manufacturing and service locations in Germany, Brazil, the Netherlands, China, and the United States. In 2018, Rheinhütte generated revenues of ~ EUR 60 million.

This divestment is in line with Aliaxis’ strategy to explore new paths for non-core activities and with the new Partner ITT Inc. Rheinhütte Pumpen joins an ideal parent, which will enable the company 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 customized 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.

“We are pleased we successfully supported Aliaxis S.A. in this complex carve-out transaction to find a good home for Rheinhütte Pumpen Group,” added Ralph Hagelgans, Partner at Livingstone.

“Rheinhütte Pumpen marks the 61st transaction for the industrial team since 2017, and the 103rd divestiture transaction within our practice,” commented Livingstone Partner Andrew Isgrig. “Our extensive sector expertise and global buyer access won the assignment and drove an exceptional outcome.” 


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