secwatch.observer — SEC 8-K summary
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Issuer:     ITT INC. (ITT)
CIK:        0000216228
Form:       8-K
Filed at:   2024-09-12T23:59:59+00:00
Accession:  0000216228-24-000064
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 8.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ITT completes acquisition of kSARIA; $460M term loan funds $175M-revenue connectivity firm
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- Acquisition of kSARIA, maker of mission-critical cable assemblies for defense/aerospace, completed Sept. 12, 2024.
- kSARIA had ~$175M 2023 sales, ~1,000 employees, six North American manufacturing sites.
- Funding: ~$460M three-year term loan (SOFR + 0.875-1.50% margin) plus cash on hand.
- Nearly 70% of kSARIA positions are sole/primary source; defense TAM ~$7B growing high-single-digit CAGR.
- kSARIA integrated into ITT's Connect & Control Technologies segment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/216228/000021622824000064/0000216228-24-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/216228/000021622824000064/itt-20240912.htm
  HTML page:      https://secwatch.observer/filing/0000216228-24-000064

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer