ITT to acquires Aerospace Contacts for $31 million
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- ITT signed a definitive agreement to acquire Aerospace Contacts for $31 million.
- The industrial manufacturer's share price rose to $195.18 following the corporate announcement.
- The strategic acquisition is designed to increase supply chain resilience in critical markets.
ITT (NYSE:ITT) signed a definitive agreement to acquire Aerospace Contacts LLC for a purchase price of $31 million.
Aerospace Contacts currently operates as a long-standing component supplier for the ITT Cannon business segment.
The acquisition is expected to close during the third quarter of 2026, according to corporate statements.
Aerospace Contacts employs approximately 140 professionals at its manufacturing facility located in Gilbert, Arizona.
Management stated the transaction will position the company for further expansion in the global defense market.
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