Lone Star Announces Sale of SPX FLOW to ITT Inc.

DALLAS & NEW YORK & LONDON & TOKYO--(BUSINESS WIRE)--Lone Star Funds (“Lone Star”) today announced the signing by an affiliate of Lone Star Fund XI, LP of a definitive agreement to sell SPX FLOW, Inc. (“SPX FLOW”), a leading provider of highly engineered equipment and process technologies for attractive end markets including industrial, health and nutrition, to ITT Inc. (NYSE: ITT) for $4.775 billion in cash and shares of common stock.

Based in Charlotte, N.C., SPX FLOW focuses on process technologies delivering mixing, blending, fluid handling, separation, thermal heat transfer and other solutions integral to industrial, health and nutrition markets. The company has operations in more than 25 countries and sales in more than 140 countries.

In partnership with Lone Star, SPX FLOW has focused on improving its sales execution and operating platform, while ensuring high quality and innovative product development. The management team has improved the company’s commercial organization and executed growth initiatives to build its presence in existing end-markets, by targeting new geographies and industries for expansion. Today, the business stands as a customer-centric leader in its industry with a culture premised on collaboration and innovation. Lone Star originally acquired SPX FLOW in April of 2022 in a take-private transaction.

“The sale of SPX FLOW marks the culmination of several years of hard work to streamline its portfolio and enhance the business. The company’s leadership team has done an excellent job of implementing a plan that targeted areas for successful growth, while improving the company’s commercial operations and product set,” said Donald Quintin, Chief Executive Officer of Lone Star. “Together, ITT and SPX FLOW will have a unique opportunity to accelerate value creation across both organizations, and we are excited to participate in that next phase of growth.”

The transaction is subject to customary closing conditions, including the receipt of applicable regulatory approvals, and is expected to close by the end of Q1 2026.

Citi and Jefferies LLC are serving as financial advisors to Lone Star.

About Lone Star

Lone Star is a leading investment firm advising funds that invest globally in private equity, credit and real estate. The firm has been successfully navigating complex situations for 30 years. The funds are experienced value investors that seek opportunities in situations that are in flux or complicated by specific structural or financial factors, regardless of the prevailing market environment. Our deep bench of senior leaders and expert deal professionals ensures a strong foundation for successful investments and strategic decision-making. Since the establishment of its first fund in 1995, Lone Star has organized 25 private equity funds with aggregate capital commitments totaling approximately $95 billion. For more information regarding Lone Star Funds, go to www.lonestarfunds.com. Follow us on LinkedIn.