Ingersoll Rand acquires SPX Flow’s Air Treatment business

Ingersoll Rand Inc has completed the acquisition of SPX Flow’s Air Treatment business in an all-cash transaction of approximately US$525 million.

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The Air Treatment business, which is now part of Ingersoll Rand’s Industrial Technologies and Services (IT&S) segment, brings a highly complementary product portfolio of energy efficient compressed air dryers, filters and other consumables, with brands including Hankison, Pneumatic Products, Jemaco, Deltech and Delair.

Nearly 50% of the business’s expected 2022 revenue of approximately US$180 million is from aftermarket sales to its installed base.

“We remain focused on driving inorganic growth through acquisitions that strengthen our position in core categories and broaden our exposure into high-growth, sustainable end markets,” said Vicente Reynal, chairman and CEO of Ingersoll Rand. “And this acquisition demonstrates that commitment. We are excited to welcome the team to the Ingersoll Rand family and cannot wait to see how together we will make life better – for our employees, customers, planet and shareholders.”