---
schema_version: "secwatch.filing_event.v1"
accession: "0000216228-24-000011"
form_type: "8-K"
ticker: "ITT"
cik: "0000216228"
company_name: "ITT INC."
filed_at: "2024-01-19T23:59:59+00:00"
generated_at: "2026-06-06T21:31:41.601656+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# ITT completes acquisition of Svanehøj, funds with €275M term loan; adds new board member

## Summary
- Acquisition of Svanehøj Group A/S, a cryogenic pumps supplier with ~$140M in 2022 sales, completed Jan 19, 2024.
- Funding via €275M drawn from a €300M term loan (EURIBOR + 0.80%-1.50%); leverage covenant step-up to 4.00x post-acquisition.
- Sharon Szafranski (EVP at Illinois Tool Works) elected to board effective Jan 17, 2024; appointed to Audit Committee.
- Svanehøj will integrate into ITT Industrial Process segment; holds leadership in ammonia/LPG/LNG fuel pump markets.

## SEC filing metadata
- accession: 0000216228-24-000011
- form_type: 8-K
- ticker: ITT
- cik: 0000216228
- company_name: ITT INC.
- filed_at: 2024-01-19T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 8.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/216228/000021622824000011/0000216228-24-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/216228/000021622824000011/itt-20240112.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000216228-24-000011
- JSON: https://secwatch.observer/filing/0000216228-24-000011.json
- Plain text: https://secwatch.observer/filing/0000216228-24-000011.txt

## Key facts
- Debt Financings
  ITT INC. incurred credit facility of €275 million with BNP Paribas, Italian Branch at EURIBOR rate for Euros, plus a ratings based margin ranging from 0.80% to 1.50% maturing three years.
  - Instrument: credit facility
  - Principal: €275 million
  - Counterparty: BNP Paribas, Italian Branch
  - Rate: EURIBOR rate for Euros, plus a ratings based margin ranging from 0.80% to 1.50%
  - Maturity: three years
  - Event: incurrence
  source text: On January 12, 2024, ITT Italia S.r.l. (“ITT Italia”), an indirect wholly owned subsidiary of ITT Inc. (the “Company”), entered into a facility agreement (the “ITT Italia Credit Agreement”), among the Company, as a guarantor, ITT Italia, as borrower, and BNP Paribas, Italian Branch, as bookrunner, sole underwriter and global coordinator, mandated lead arranger and agent. The ITT Italia Credit Agreement has a maturity of three years and provided for a term loan commitment of up to €300.0 million, €275 million of which commitment has been borrowed to finance the Company’s previously announced acquisition of Svanehøj Group A/S referenced under Item 8.01 below and the remaining €25.0 million of which has been cancelled.
  evidence_url: https://www.sec.gov/Archives/edgar/data/216228/000021622824000011/0000216228-24-000011-index.htm
- Executive change
  Sharon Szafranski was elected as Director at ITT INC..
  - Action: elected
  - Role: Director
  source text: on January 17, 2024, the Board of Directors (the “Board”) of the Company, acting on the recommendation of the Nominating and Governance Committee, elected Ms. Sharon Szafranski to its Board of Directors, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/216228/000021622824000011/0000216228-24-000011-index.htm
- Material Agreements
  ITT INC. entered into ITT Italia Credit Agreement with BNP Paribas, Italian Branch valued at €300.0 million (effective 2024-01-12).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: BNP Paribas, Italian Branch
  - Value: €300.0 million
  - Effective: 2024-01-12
  source text: On January 12, 2024, ITT Italia S.r.l. (“ITT Italia”), an indirect wholly owned subsidiary of ITT Inc. (the “Company”), entered into a facility agreement (the “ITT Italia Credit Agreement”), among the Company, as a guarantor, ITT Italia, as borrower, and BNP Paribas, Italian Branch, as bookrunner, sole underwriter and global coordinator, mandated lead arranger and agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/216228/000021622824000011/0000216228-24-000011-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.