Ingersoll Rand Further Enhances Air Treatment Capabilities with Two Acquisitions
Ingersoll Rand (NYSE: IR) has announced the acquisition of two companies, G & D Chillers and Advanced Gas Technologies (AGT), for a combined purchase price of approximately $27 million. The acquisitions aim to enhance the company's air treatment capabilities.
G & D, based in the United States, specializes in premium glycol chillers for applications requiring below-freezing temperatures, particularly in breweries, wineries, and food processing. The acquisition will expand Ingersoll Rand's manufacturing, engineering, and Engineer to Order capabilities for chillers in North America.
AGT, headquartered in Ontario, Canada, is a custom designer and supplier of onsite gas generation systems for industrial customers. Both companies will join Ingersoll Rand's Industrial Technologies and Services segment (IT&S). The acquisitions have a combined pre-synergy Adjusted EBITDA purchase multiple in the high-single digits.
Ingersoll Rand (NYSE: IR) ha annunciato l'acquisizione di due aziende, G & D Chillers e Advanced Gas Technologies (AGT), per un prezzo complessivo di circa 27 milioni di dollari. Le acquisizioni mirano a potenziare le capacità dell'azienda nel trattamento dell'aria.
G & D, con sede negli Stati Uniti, è specializzata in refrigeratori a glicole di alta qualità per applicazioni che richiedono temperature sotto zero, in particolare per birrifici, cantine e industrie alimentari. L'acquisizione amplierà le capacità di produzione, ingegneria e progettazione su misura (Engineer to Order) di Ingersoll Rand per i refrigeratori in Nord America.
AGT, con sede in Ontario, Canada, è un progettista e fornitore su misura di sistemi di generazione di gas in loco per clienti industriali. Entrambe le aziende entreranno a far parte del segmento Industrial Technologies and Services (IT&S) di Ingersoll Rand. Le acquisizioni presentano un multiplo di acquisto dell'EBITDA rettificato pre-sinergie a una cifra alta singola.
Ingersoll Rand (NYSE: IR) ha anunciado la adquisición de dos empresas, G & D Chillers y Advanced Gas Technologies (AGT), por un precio combinado de aproximadamente 27 millones de dólares. Las adquisiciones tienen como objetivo mejorar las capacidades de tratamiento de aire de la compañía.
G & D, con sede en Estados Unidos, se especializa en enfriadores de glicol premium para aplicaciones que requieren temperaturas bajo cero, especialmente en cervecerías, bodegas y procesamiento de alimentos. La adquisición ampliará las capacidades de fabricación, ingeniería y diseño a medida (Engineer to Order) de Ingersoll Rand para enfriadores en Norteamérica.
AGT, con sede en Ontario, Canadá, es un diseñador y proveedor personalizado de sistemas de generación de gas in situ para clientes industriales. Ambas empresas se integrarán en el segmento de Tecnologías y Servicios Industriales (IT&S) de Ingersoll Rand. Las adquisiciones tienen un múltiplo de compra del EBITDA ajustado pre-sinergias en el rango alto de un solo dígito.
Ingersoll Rand (NYSE: IR)는 G & D Chillers와 Advanced Gas Technologies (AGT) 두 회사를 약 2,700만 달러의 총 매입가로 인수했다고 발표했습니다. 이번 인수는 회사의 공기 처리 역량을 강화하는 것을 목표로 합니다.
미국에 본사를 둔 G & D는 특히 양조장, 와이너리, 식품 가공 분야에서 영하 온도가 필요한 용도에 고급 글리콜 냉각기를 전문으로 합니다. 이번 인수로 인해 인거솔랜드는 북미 지역 냉각기 제조, 엔지니어링 및 주문 제작(Engineer to Order) 역량을 확장할 예정입니다.
캐나다 온타리오에 본사를 둔 AGT는 산업 고객을 위한 현장 가스 생성 시스템을 맞춤 설계 및 공급하는 업체입니다. 두 회사 모두 인거솔랜드의 산업 기술 및 서비스 부문(IT&S)에 합류할 예정입니다. 이번 인수는 시너지 효과를 고려하기 전 조정 EBITDA 구매 배수가 높은 한 자릿수대입니다.
Ingersoll Rand (NYSE : IR) a annoncé l'acquisition de deux sociétés, G & D Chillers et Advanced Gas Technologies (AGT), pour un prix d'achat combiné d'environ 27 millions de dollars. Ces acquisitions visent à renforcer les capacités de traitement de l'air de l'entreprise.
G & D, basée aux États-Unis, est spécialisée dans les refroidisseurs à glycol haut de gamme pour des applications nécessitant des températures inférieures à zéro, notamment dans les brasseries, les vignobles et l'industrie agroalimentaire. Cette acquisition permettra d'élargir les capacités de fabrication, d'ingénierie et de conception sur mesure (Engineer to Order) d'Ingersoll Rand pour les refroidisseurs en Amérique du Nord.
AGT, dont le siège est en Ontario, au Canada, est un concepteur et fournisseur sur mesure de systèmes de génération de gaz sur site pour clients industriels. Les deux sociétés rejoindront la division Technologies et Services Industriels (IT&S) d'Ingersoll Rand. Les acquisitions présentent un multiple d'achat de l'EBITDA ajusté avant synergies dans la fourchette haute des chiffres uniques.
Ingersoll Rand (NYSE: IR) hat die Übernahme von zwei Unternehmen, G & D Chillers und Advanced Gas Technologies (AGT), zu einem Gesamtpreis von etwa 27 Millionen US-Dollar bekannt gegeben. Die Übernahmen zielen darauf ab, die Luftbehandlungsfähigkeiten des Unternehmens zu verbessern.
G & D mit Sitz in den USA spezialisiert sich auf hochwertige Glykolkühler für Anwendungen, die Temperaturen unter dem Gefrierpunkt erfordern, insbesondere in Brauereien, Weinkellereien und der Lebensmittelverarbeitung. Die Übernahme wird Ingersoll Rand's Fertigungs-, Engineering- und Engineer-to-Order-Fähigkeiten für Kühler in Nordamerika erweitern.
AGT mit Hauptsitz in Ontario, Kanada, ist ein maßgeschneiderter Designer und Lieferant von Onsite-Gasgenerationssystemen für Industriekunden. Beide Unternehmen werden in den Geschäftsbereich Industrial Technologies and Services (IT&S) von Ingersoll Rand integriert. Die Übernahmen weisen ein kombiniertes Kaufmultiplikator des bereinigten EBITDA vor Synergien im hohen einstelligen Bereich auf.
- Strategic expansion of air treatment portfolio with complementary products
- Acquisitions made at attractive valuation (high-single digit EBITDA multiple)
- Enhanced manufacturing and engineering capabilities in North America
- Access to new market channels through AGT's established presence in Canada
- Relatively small acquisition size ($27M) may have immediate impact on overall revenue
Insights
Ingersoll Rand's acquisition of G&D Chillers and Advanced Gas Technologies for
These acquisitions strengthen IR's air treatment portfolio with complementary technologies: specialized glycol chillers for food/beverage applications and custom gas generation systems. Both offerings align with IR's focus on higher-margin, engineered solutions while supporting their stated "in-region for region" manufacturing strategy to mitigate supply chain risks.
While the
The Engineer-to-Order (ETO) capabilities from G&D Chillers should strengthen IR's position in custom cooling applications, potentially commanding premium pricing versus standardized solutions. Meanwhile, AGT's established channel presence in Canada provides immediate distribution advantages without requiring significant infrastructure investment.
These acquisitions strategically enhance Ingersoll Rand's air treatment capabilities through targeted technology additions. G&D's specialized glycol chillers address critical low-temperature requirements in food and beverage processing—a resilient sector with consistent capital investment patterns. Their particular strength in breweries and wineries targets a growing craft production segment requiring precise temperature control.
AGT's onsite gas generation systems complement IR's compressed air portfolio by addressing the complete industrial gas ecosystem. Onsite generation represents a growing alternative to delivered gas services, offering customers lower long-term costs and supply reliability. The acquisition provides IR with expanded capabilities to offer integrated air and gas solutions from a single supplier.
The technical synergies here are significant. IR can now integrate specialized cooling and gas generation with their core compression technologies, creating more comprehensive customer solutions. The Engineer-to-Order capabilities from G&D also strengthen IR's custom application expertise, particularly valuable as industrial processes become increasingly specialized.
These acquisitions demonstrate IR's strategic focus on technologies supporting critical manufacturing processes rather than pursuing commodity equipment segments. By targeting specialized subsectors within the broader industrial equipment market, IR continues enhancing its technical differentiation while improving its overall margin profile.
- Execution of bolt-on acquisition strategy continues to enhance company’s durable financial profile by adding highly complementary products and capabilities focused on high-growth, sustainable end markets
- Acquisitions will expand Ingersoll Rand’s product and technology portfolio with additional chiller and onsite gas generation offerings and support the company’s in-region for the region strategy
- Acquisitions have a combined pre-synergy Adjusted EBITDA purchase multiple of high-single digits
DAVIDSON, N.C., April 15, 2025 (GLOBE NEWSWIRE) -- Ingersoll Rand Inc., (NYSE: IR) a global provider of mission-critical flow creation and life science and industrial solutions, has acquired G & D Chillers, Inc. (“G & D”) and Advanced Gas Technologies Inc. (“AGT”) for a combined purchase price of approximately
G & D, headquartered in the United States, builds premium glycol chillers to cool liquids, especially in applications requiring temperatures below freezing, like in breweries, wineries, and food processing. G & D expands Ingersoll Rand’s manufacturing, engineering, and Engineer to Order (ETO) capabilities for chillers in the North American market.
AGT, headquartered in Ontario, Canada, is a custom designer and supplier of onsite gas generation systems serving industrial customers primarily in Canada. This acquisition adds new packaging capabilities and an established channel presence.
G & D and AGT will both join the Industrial Technologies and Services segment (IT&S).
“I would like to extend a warm welcome to the employees of G & D and AGT,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “Both are solid businesses with strong performance and growth potential backed by great teams. Their offerings in the air treatment space will be beneficial as we continually look for ways to better serve our customers.”
About Ingersoll Rand Inc.
Ingersoll Rand Inc. (NYSE: IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making Life Better for our employees, customers, shareholders, and planet. Customers lean on us for exceptional performance and durability in mission-critical flow creation and life science and industrial solutions. Supported by over 80+ respected brands, 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” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to Ingersoll Rand Inc.’s (the “Company” or “Ingersoll Rand”) expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “target,” “endeavor,” “seek,” “predict,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “on track to” “will continue,” “will likely result,” “guidance” or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements other than historical facts are forward-looking statements.
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. 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. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) adverse impact on our operations and financial performance due to natural disaster, catastrophe, global pandemics (including COVID-19), geopolitical tensions, cyber events or other events outside of our control; (2) unexpected costs, charges or expenses resulting from completed and proposed business combinations; (3) uncertainty of the expected financial performance of the Company; (4) failure to realize the anticipated benefits of completed and proposed business combinations; (5) the ability of the Company to implement its business strategy; (6) difficulties and delays in achieving revenue and cost synergies; (7) inability of the Company to retain and hire key personnel; (8) evolving legal, regulatory and tax regimes; (9) changes in general economic and/or industry specific conditions; (10) actions by third parties, including government agencies; and (11) other risk factors detailed in Ingersoll Rand’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in its periodic filings with the SEC, which are available on the SEC’s website at http://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.
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