ITT acquires Israeli valve manufacturer Habonim

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ITT Inc has bought the Habonim valve company in a US$140 million all-cash deal.

Kfar HaNassi, Israel-based Habonim designs and manufactures valves, valve automation and actuation for the gas distribution (including LNG), biotech and harsh application service sectors.

The company’s business model allows for the commercialisation of a majority of its products through distribution while maintaining its end-user relationships. Habonim also sells directly to original equipment manufacturers and integrators for customised solutions. The company has operations in Israel, the US and the Netherlands and employs over 200 people globally.

Habonim will become part of ITT's Industrial Process (IP) segment. ITT’s valves business is now a US$140 million platform.

“Habonim is a great addition to the ITT portfolio,” says Luca Savi, CEO and president of ITT. “The company’s complementary ball valves offering and focus on harsh applications in attractive end markets will drive stronger sales growth for Industrial Process and ITT over the long term.

“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," adds Savi.

"Becoming part of ITT is a very important and exciting step for Habonim on our path to grow and expand our global leadership in the highly performing valves and automated-valves markets," says Ilan Gilboa, Habonim CEO. "The global reach, expertise in the Industrial Process business, and the shared, highly engineered approach to solving problems and creating value for our customers will allow us to move forward much faster and with a greater impact as part of ITT."