Xylem Inc. (Washington, D.C.) announced that it has entered into an agreement to acquire the Cornell Pump Company LLC (Clackamas, Ore.) and Roper Pump Company (Commerce, Ga.) businesses from Indicor LLC (Charlotte, N.C.) for $1.46 billion.
The acquisition expands Xylem’s ability to serve a broader range of mission-critical industrial applications while advancing its strategy to increase exposure to high-growth sectors benefiting from infrastructure investment, industrial modernization and growing resource demands.
“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.”
The Cornell Pump and Roper Pump businesses broaden Xylem’s participation in industrial and municipal applications where customer requirements extend beyond traditional pumping needs. This portfolio extension expands Xylem’s ability to serve sectors where industrial modernization and increasing complexity are driving stronger requirements for reliability, operational continuity and process efficiency, making specialized technologies and application expertise increasingly critical.
The businesses 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. They also bring patented self-priming capabilities and specialized expertise developed in construction and mining, food and beverage, agriculture, energy, and municipal applications. The businesses will be reported in Xylem’s Water Infrastructure segment.
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, which is expected to close in the fourth quarter of 2026, is subject to the receipt of required regulatory approvals and other customary closing conditions.