Xylem Inc. (XYL:US), the water technology company that was spun off last year from ITT Corp., acquired privately held Heartland Pump Rental for about $29 million to expand in the dewatering business.
Dewatering is “a strategic growth market for us, building on our existing capabilities in emergency water removal, bypass, drainage and industrial applications,” Xylem Chief Executive Officer Gretchen McClain said in a statement.
Xylem’s dewatering solutions business involves designing and manufacturing automatic self-priming pumps and submersible electric pumps. Heartland Pump is based in Carterville, Illinois, with branches in Indiana, Mississippi and Tennessee.
Xylem is based in White Plains, New York.
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