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White Plains, NY -- ITT Industries, Inc. announced that it has acquired the business and assets of Ellis K. Phelps & Company (Phelps) of Apopka, Florida. Phelps has long been the largest U.S. distributor of products sold under ITT's Flygt brand for the wastewater pumping and treatment market. Terms of the transaction were not disclosed.
"This acquisition will provide a foundation for support and sales growth in our $2.3billion global water and wastewater business, and firmly secure our position as a premier supplier of related products in the Florida-Georgia region," said Robert Ayers, President of ITT Industries' Fluid Technology.
Phelps has more than 53 years experience of servicing the Florida and Southern Georgia marketplace. Phelps' sales, service and local monitoring and control business revolves primarily around ITT's Flygt products and complimentary equipment used in water and waste water pumping and treatment solutions. Phelps' realized $32 million in revenue in 2004. The Phelps organization has 75 employees between its main location in Apopka and three full service satellite facilities in West Palm Beach and Fort Myers, Florida, and Savannah, Georgia.
About ITT Industries
ITT Industries, Inc. supplies advanced technology products and services in key markets including: fluid and water management including water treatment; defense communication, opto-electronics, information technology and services; electronic interconnects and switches; and other specialty products. Headquartered in White Plains, NY, the company generated $6.8 billion in 2004 sales.
Web site: www.itt.com
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