Global water technology company Xylem announced it has entered into an agreement to acquire the Cornell Pump and Roper Pump businesses from Indicor for $1.46 billion.
Xylem said the acquisition will expand its ability to serve a broader range of mission-critical industrial applications, noting its increasing client needs working in demanding environments with challenging fluid-handling requirements.
“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.”
Expanding Industrial Capabilities
A press release from Xylem discussed the transaction. It noted that the Cornell Pump and Roper Pump businesses will broaden Xylem’s participation in industrial and municipal applications where customer requirements extend beyond traditional pumping needs. For Xylem, the expanded portfolio will enhance its ability to serve sectors where industrial modernization and increasing complexity are driving stronger requirements for reliability, operational continuity and process efficiency.
Xylem said the businesses will add highly engineered pumping technologies designed to move fluids that are more difficult to handle, including applications involving slurry transport, solids handling and demanding suction-lift requirements.
The new businesses will be reported in Xylem’s Water Infrastructure segment.
Transaction
The purchase price of $1.46 billion represents approximately 11.6x 2026 projected EBITDA after run-rate cost synergies of $23 million and an estimated $170 million of expected tax benefits. The businesses are expected to generate greater than $260 million in revenue in 2026 with EBITDA margins in excess of 30%.
The acquisition is expected to be accretive to Xylem’s adjusted earnings per share in 2027.
The transaction is expected to close in the fourth quarter of 2026 and is subject to the receipt of required regulatory approvals and other customary closing conditions.
About Xylem
Xylem is a Fortune 500 global water solutions company that empowers customers and communities to build a more water-secure world. The company employs 22,000 and generated $9 billion in revenue in 2025.
Leave a Reply