ITT Inc. said the deal will strengthen its aerospace and defense business.
Stamford-based ITT Inc., a manufacturer of engineered components and technology products, said it has completed a $31 million acquisition aimed at strengthening its aerospace and defense business.
The company, which serves the transportation, industrial, energy and aerospace markets, said it has acquired privately held Aerospace Contacts LLC, an Arizona-based manufacturer of precision electrical contacts, custom housings and shells used in aerospace and defense connector systems.
Aerospace Contacts primarily serves customers in the Americas and has been a longtime supplier to ITT's Cannon business, which is part of the company's Connect & Control Technologies segment, the companies said.
ITT said the acquisition will strengthen its supply chain while positioning the company for additional growth in the aerospace and defense market.
ITT operates through three business segments: Flow Technologies, which makes pumps, valves and other fluid-processing equipment; Motion Technologies, which manufactures brake components, shock absorbers and other transportation products; and Connect & Control Technologies, which produces connectors, cable assemblies and other components for aerospace, defense and industrial customers.
