ITT Acquires Habonim, a Leading Provider of Industrial Valves and Actuators
ITT Inc. announced on April 4, 2022, that it has acquired privately held Habonim for $140 million in an all-cash transaction.
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Edited by Margo Ellis
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ITT Inc. announced on April 4, 2022, that it has acquired privately held Habonim for $140 million in an all-cash transaction. Habonim will become part of ITT's Industrial Process (IP) segment.
Based in Kfar HaNassi, Israel, Habonim designs and manufactures valves, valve automation and actuation for the gas distribution (including LNG), biotech and harsh application service sectors. The company’s highly differentiated business model allows for the commercialization of most of its products through distribution while maintaining its end-user relationships. Habonim also sells directly to original equipment manufacturers and integrators for customized solutions. The company has operations in Israel, the U.S. and the Netherlands and employs over 200 highly skilled professionals globally.
“Habonim is a great addition to the ITT portfolio,” said Luca Savi, chief executive officer and president of ITT. "The acquisition provides ITT access to new, attractive niche markets, expands IP's existing specialty valves portfolio, including through its cryogenic and hydrogen ball valves offerings for green energy applications, and builds on an already strong distribution network in North America.”
ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial and energy markets.
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