ITT buys Godwin Pumps
Marcia Gruver Doyle | June 24, 2010
ITT has purchased privately-held Godwin Pumps, which manufactures a line of automatic self-priming portable pumps. The $585 million transaction is expected to close in the third quarter of 2010.
Gretchen McClain, president of ITT’s Fluid and Motion Control group, calls the acquisition “a great complement to our existing fluid technology portfolio, and is expected to establish ITT among the leaders in the growing and profitable $3 billion global market for dewatering pumps and rental services.”
Godwin Pumps operates a U.S. rental fleet of more than 6,000 pumps at 26 equipment rental facilities and a network of around 50 distributors worldwide. ITT also sells Flygt and Grindex brand dewatering pumps, and rents from its fleet of more than 11,000 pumps.
MORE FROM News & Analysis
- Congress passes spending bill; cuts billions from federal construction accounts521 Views
- Tappan Zee bridge construction shut down after silos collapse371 Views
- Construction worker stops wrong way driver, avoids potential disaster92 Views
- Keep your laws off our ditches78 Views
- With no plans to raise gas tax, Alabama will rely on 2015 bond issue for road projects69 Views