Xylem has agreed to acquire the Cornell Pump and Roper Pump businesses from Indicor for $1.46 billion, strengthening its position in engineered pumping technologies for industrial and municipal markets.
The acquisition expands Xylem’s ability to serve mission-critical applications where reliability, process efficiency and continuity are essential. The deal also supports Xylem’s strategy to increase exposure to sectors benefiting from infrastructure investment, industrial modernisation and growing resource demands.
The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions.
Engineered pumping for demanding applications
Cornell Pump and Roper Pump broaden Xylem’s portfolio in industrial and municipal fluid-handling applications where requirements go beyond traditional pumping.
The businesses add engineered pumping technologies designed to move challenging fluids, including slurry transport, solids handling and demanding suction-lift applications. They also bring patented self-priming capabilities and specialist expertise across construction, mining, food and beverage, agriculture, energy and municipal markets.
Following completion, the businesses will be reported within Xylem’s Water Infrastructure segment.
“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.”
Industrial and municipal growth
The acquisition comes as industrial operators and municipalities face rising pressure to improve asset reliability, manage difficult fluids and modernise ageing infrastructure.
Specialised pumping technologies play an important role in applications such as wastewater handling, dewatering, mining, agriculture, food processing and industrial process water systems. These environments often require pumps capable of handling abrasive materials, variable flow conditions, high solids content or demanding suction requirements.
For Xylem, the Cornell Pump and Roper Pump businesses expand its ability to serve customers across a broader range of water, wastewater and industrial infrastructure needs.
Transaction details
The $1.46 billion purchase price represents approximately 11.6 times projected 2026 EBITDA after run-rate cost synergies of $23 million and an estimated $170 million of expected tax benefits.
The businesses are expected to generate more than $260 million in revenue in 2026, with EBITDA margins above 30%.
Xylem said the acquisition is expected to be accretive to adjusted earnings per share in 2027.
Advisors
Centerview Partners is serving as financial advisor to Xylem, while Gibson, Dunn & Crutcher LLP is serving as legal advisor.
Evercore Group LLC and Goldman Sachs & Co. LLC are serving as financial advisors to Indicor, with Debevoise & Plimpton LLP serving as legal advisor.
FAQs
Who is Xylem acquiring?
Xylem has agreed to acquire Cornell Pump and Roper Pump from Indicor.
How much is Xylem paying for Cornell Pump and Roper Pump?
The agreed purchase price is $1.46 billion.
Why is Xylem acquiring Cornell Pump and Roper Pump?
The acquisition expands Xylem’s engineered pumping portfolio for industrial and municipal applications, including slurry transport, solids handling and demanding suction-lift requirements.
When is the transaction expected to close?
The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and other customary closing conditions.
Which Xylem segment will the businesses join?
Cornell Pump and Roper Pump will be reported within Xylem’s Water Infrastructure segment.
