Ingersoll Rand Elects to Not Participate in SPX FLOW Strategic Alternatives Process

Rhea-AI Summary

Ingersoll Rand Inc. (NYSE:IR) has announced it will not participate in the strategic alternatives process of SPX FLOW, Inc. (NYSE:FLOW) initiated on July 26, 2021. The company emphasized its commitment to a comprehensive capital allocation strategy focused on mergers and acquisitions (M&A). A capital allocation strategy call is planned for September 2, 2021, at 8 a.m. Eastern Time to provide further insights. The company aims to enhance growth through a robust M&A funnel.

Positive

• Ingersoll Rand maintains a strong focus on M&A as part of its capital allocation strategy.
• The upcoming capital allocation strategy call may provide investors with valuable insights into future growth.

Negative

• Absence of participation in SPX FLOW's strategic alternatives process may limit potential growth opportunities.

DAVIDSON, N.C.--(BUSINESS WIRE)--

Ingersoll Rand Inc. (NYSE:IR), a global provider of mission-critical flow creation and industrial solutions, confirmed it will not participate in the SPX FLOW, Inc. (NYSE:FLOW) strategic alternatives process announced by SPX FLOW on July 26, 2021. Ingersoll Rand also announced its comprehensive capital allocation strategy today noting M&A remains the focal point with a robust strategic, growth-oriented funnel. The company will share further details on a capital allocation strategy call on September 2, 2021 at 8 a.m. Eastern Time.

About Ingersoll Rand Inc.

Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for our employees, customers and communities. Customers lean on us for our technology-driven excellence in mission-critical flow creation and industrial solutions across 40+ respected brands where our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity and efficiency. For more information, visit www.IRCO.com.

Forward-Looking Statements

This news release contains “forward-looking statements” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including but not limited to, statements that relate to our capital allocation strategy and M&A funnel. These forward-looking statements are based on Ingersoll Rand’s current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from these current expectations. Such risks and uncertainties, include, but are not limited to: our ability to timely obtain, if ever, approval on any transaction in the company’s capital allocation funnel; adverse effects on the market price of our common stock and on our operating results because any transaction will be approved or consummated; negative effects of a transaction on the market price of our common stock; significant transaction costs and/or unknown liabilities; general economic and business conditions that may impact the companies in connection with any transaction; unanticipated expenses such as litigation or legal settlement expenses; changes in capital market conditions; and the impact of any proposal on our employees, customers and suppliers. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Additional factors that could cause Ingersoll Rand’s results to differ materially from those described in the forward-looking statements can be found under the section entitled “Risk Factors” in its most recent annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in its periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. The foregoing list of important factors is not exclusive.

Any forward-looking statements speak only as of the date of this release. Ingersoll Rand undertakes no obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210901006019/en/

Media:

Misty Zelent

mzelent@irco.com

Investor Relations:

Christopher Miorin

Christopher.miorin@gardnerdenver.com

Source: Ingersoll Rand Inc.

FAQ

What is Ingersoll Rand's recent announcement regarding SPX FLOW on July 26, 2021?

Ingersoll Rand announced it will not participate in the strategic alternatives process of SPX FLOW, Inc. initiated on July 26, 2021.

When is Ingersoll Rand's capital allocation strategy call scheduled?

The capital allocation strategy call is scheduled for September 2, 2021, at 8 a.m. Eastern Time.

What is the focus of Ingersoll Rand's capital allocation strategy?

Ingersoll Rand's capital allocation strategy focuses on mergers and acquisitions (M&A) to drive growth.

What potential risks are associated with Ingersoll Rand's M&A strategy?

Potential risks include market price declines of common stock, significant transaction costs, and general economic conditions impacting transactions.