Xylem (NYSE: XYL) has completed the acquisition of Cornell Pump and Roper Pump, furthering the company’s portfolio transformation.
The news follows Xylem’s recent acquisitions of WaterFleet and TriOS. The D.C.-based water technology company says it chose these businesses because each has grown at rates above Xylem’s current targets at rates above Xylem’s current targets and expand the company’s capabilities across the mining, semiconductor, and food and beverage sectors.
“We’ve been very deliberate about where we want to grow and where we believe Xylem can create the most value,” said Matthew Pine, President and CEO of Xylem. “This acquisition is a great example. It brings strong positions in markets benefiting from some of the biggest investment trends we see today, along with technologies and expertise that broaden what we can do for customers.”
Cornell and Roper will be part of the company’s water infrastructure segment through January 2027, when they will be reported as part of Xylem’s flow solutions segment. The businesses add technologies used in slurry transport, solids handling and suction lift to the company’s portfolio.
Transaction details
Announced in August, the deal is valued at $1.46 billion (C$2.08 billion) and is expected to grow Xylem’s adjusted earnings per share in 2027.
The company says the businesses could generate more than $260 million in revenue in 2026, with EBITDA margins above 30%.
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