Ingersoll Rand to acquire SPX Flow’s Air Treatment business

Our partner company Ingersoll Rand Inc. a global provider of mission-critical flow creation and industrial solutions, has entered into an agreement to acquire SPX FLOW’s Air Treatment business for approximately $525 million.

Тhe Air Treatment business is a leading manufacturer of reliable and energy efficient desiccant and refrigerated dryers, filtration systems and purifiers for dehydration in compressed air. With expected in 2022 revenue of approximately US$180 million, the business has manufacturing capabilities in the US, Germany and South Korea and nearly 500 employees. The company's products go to market through the highly recognizeble brands of Hankison, Pneumatic Products, Jemaco, Deltech and Delair.

Today, Ingersoll Rand Inc. already has more than a hundred plants around the world that employ more than 50,000 people. The company's products are represented by about 40 brands, including Gardner Denver, Champion, Comp Air, iConn, PureAir, PureCare, Elmo Rietschle. Compressors International is the official dealer of these brands in Ukraine.

SPX FLOW company products have a high degree of complementarity with the main range of the concern’s air compressors. The acquisition of the Air Treatment business will strengthen the position and expand the product range of Ingersoll Rand with new niche products, as well as a projected expansion of the sales market.

Vicente Reynal, chairman and chief executive officer of Ingersoll Rand said: “Not only does the acquisition add a highly complementary product portfolio, nearly half of its revenue is from recurring aftermarket offerings - one of our critical strategic acquisition criteria”.

When the deal closes, the SPX Flow Air Treatment business will join Ingersoll Rand’s Industrial Technologies and Services (IT&S) segment. The all-cash transaction is expected to close later this year.