Xylem has agreed to acquire the Cornell Pump and Roper Pump businesses from Indicor for $1.46 billion, expanding the water technology company’s portfolio of pumping equipment for industrial and municipal applications.

The businesses are expected to generate more than $260 million in 2026 revenue, with EBITDA margins above 30%, according to Xylem. The transaction is expected to be accretive to Xylem’s adjusted earnings per share in 2027 and is expected to close in the fourth quarter of 2026, subject to regulatory approvals and other customary closing conditions.

Cornell Pump and Roper Pump will become part of Xylem’s Water Infrastructure segment. Their products include engineered pumping technologies for applications involving slurry transport, solids handling and demanding suction-lift requirements, as well as self-priming pump technologies.

The businesses serve markets including construction and mining, food and beverage, agriculture, energy and municipal water applications. Xylem said the acquisition will increase its exposure to markets benefiting from infrastructure investment, industrial modernization and growing resource demands.

The purchase price represents approximately 11.6 times the businesses’ projected 2026 EBITDA after $23 million in expected run-rate cost synergies and an estimated $170 million in tax benefits, Xylem said.