ITT Expands Compact Actuation Portfolio with Acquisition of Clippard Cylinder Product Line

Rhea-AI Summary

ITT has acquired Clippard Instrument Laboratories' durable pneumatic cylinder product lines, enhancing its Compact® Automation offerings for high-speed applications in industries like robotics and packaging. This strategic move aims to simplify customer purchasing through complementary distribution channels while strengthening ITT's market presence. The acquisition, finalized in Q2 2022, involves stainless steel, brass, and aluminum cylinder products, and aligns with ITT's expansion into rapidly growing markets.

Positive

• Acquisition enhances ITT's Compact® Automation product line.
• Strengthens presence in fast-growing markets like robotics and automation.
• Simplifies customer purchasing through complementary distribution channels.

Negative

• None.

• Clippard’s line of durable, interchangeable, pneumatic cylinder products extends portfolio for high-speed, high-cycle applications in industrial automation
• Complementary distribution channels simplify customer purchasing experience while creating opportunities for ITT Compact^® to accelerate growth
• Transaction strengthens ITT's pneumatic cylinder portfolio in fast-growing robotics, packaging, and automation end markets

STAMFORD, Conn.--(BUSINESS WIRE)-- August 10, 2022 -- ITT Inc. (NYSE: ITT) announced it acquired Clippard Instrument Laboratories’ product lines of durable, low maintenance, and cost competitive interchangeable pneumatic cylinders. The product lines include stainless steel, brass and aluminum cylinders and volume tanks. These industry-leading components will expand ITT’s Compact^® Automation product offering of air cylinders, and linear and rotary actuators used in applications such as robotics, packaging, and automation. The acquisition closed in the second quarter of 2022.

“Clippard’s interchangeable solutions are an exciting addition to Compact’s already vast product offering of small, powerful, and configurable components,” said Ryan Flynn, President of ITT Connect & Control Technologies. “This expanded product line offers our customers a single source of critical application solutions for challenging environments. The acquisition expands ITT’s presence in attractive end markets, including automation, and builds on our already strong position in components.”

Clippard’s pneumatic cylinders broaden the Compact offering with products designed for high-speed, high-cycle applications found in industries such as warehouse automation, textiles, and food and beverage, where Compact already has a strong presence today. At the same time, the two businesses share distribution networks that, when combined, will simplify the customer purchasing experience and create opportunities to extend relationships with distributors.

To further serve the growing needs of its customers, ITT also announced that its Compact business will expand its Westminster, South Carolina operations, including engineering, assembly, machining, customer service and quality departments, to house the newly acquired Clippard cylinder production assets.

For more information please visit: ITT.com, or to learn more about Compact Automation please visit: compactautomation.com

About ITT

ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and energy markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. ITT is headquartered in Stamford, Connecticut, with employees in more than 35 countries and sales in approximately 125 countries. For more information, visit www.itt.com.

About ITT Connect & Control Technologies

ITT’s Connect and Control Technologies business designs and manufactures harsh-environment connectors and critical energy absorption, motion, flow and environmental control components. Through leading brands such as Aerospace Controls, BIW Connector Systems, Cannon, Compact, Enidine and Veam, the business serves customers in the aerospace, automation, defense, energy, industrial, infrastructure and transportation markets.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220809006122/en/

Media:

Kellie Harris

+1 914-641-2103

kellie.harris@itt.com



Investors:

Mark Macaluso

+1 914-641-2064

mark.macaluso@itt.com

Source: ITT Inc.

FAQ

What did ITT acquire from Clippard?

ITT acquired Clippard's product lines of durable pneumatic cylinders, including stainless steel, brass, and aluminum options.

When was the acquisition of Clippard by ITT completed?

The acquisition was completed in the second quarter of 2022.

How will the Clippard acquisition impact ITT's market position?

The acquisition is expected to strengthen ITT's market position in robotics, packaging, and automation industries.

What is the strategic significance of the Clippard acquisition for ITT?

It expands ITT's pneumatic cylinder portfolio and simplifies customer purchasing through combined distribution networks.

What are the main applications for the pneumatic cylinders acquired?

The cylinders are used in high-speed applications across industries such as robotics, packaging, warehouse automation, textiles, and food and beverage.