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ITT to buy Godwin Pumps

21 June 2010

ITT Corp has signed an agreement to purchase privately held Godwin Pumps for US$585 million.

Godwin Pumps specialises in the sale and rental of automatic self-priming portable pumps, including the original Dri-Prime pump, for industrial, construction, mining, municipal, oil and gas applications.

Founded in 1976, Godwin Pumps is headquartered in Bridgeport, New Jersey, USA, and has 800 employees throughout the US and at its pump manufacturing facility in Gloucestershire, UK. The company has a US rental fleet of more than 6000 pumps at 26 equipment rental facilities and a network of 50 distributors worldwide.
 
“Godwin’s business is a great complement to our existing fluid technology portfolio, and is expected to establish ITT among the leaders in the growing and profitable US$3 billion global market for dewatering pumps and rental services,” said Gretchen McClain, president of the ITT Fluid and Motion Control group.
 
John Michael Paz, founder and chief executive officer (CEO) of Godwin Pumps, said: “Over the last 30 years, Godwin employees and our strong distribution network have built the Godwin brand and reputation, and I am pleased to see this opportunity for future growth.”

 

This article is featured in:
Construction & Building  •  Mining  •  Water and Wastewater

 

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