Xylem Inc. (NYSE: XYL) has announced a significant acquisition agreement to purchase the Cornell Pump and Roper Pump businesses from Indicor for $1.46 billion.
This strategic acquisition aims to enhance Xylem's capacity to address a wider array of mission-critical industrial applications, aligning with its strategy to tap into high-growth sectors driven by infrastructure investment, industrial modernization, and increasing resource demands.
The deal is anticipated to positively impact Xylem's adjusted earnings per share by 2027, with the transaction expected to finalize in the fourth quarter of 2026.
Centerview Partners is acting as the financial advisor, while Gibson, Dunn & Crutcher LLP provides legal counsel for Xylem in this transaction.
“The long-term demand drivers supporting our business continue to strengthen, creating new opportunities across industrial markets where water is increasingly critical to operational success,” said Matthew Pine, President and CEO of Xylem. “This acquisition expands our presence in key growth sectors and enhances our ability to help customers address evolving operational requirements. It also strengthens our portfolio in ways that support long-term value creation.”