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Ingersoll Rand Inc. Common Stock (NYSE: IR) is a global leader in creating and sustaining safe, comfortable, and efficient environments. The company's diverse portfolio is categorized into two main business lines: Industrial Technologies and Services, and Precision and Science Technologies. With renowned brands such as Club Car®, Ingersoll Rand®, Thermo King®, and Trane®, the company enhances the quality and comfort of air in homes and buildings, ensures the safe transport and protection of food and perishables, secures homes and commercial properties, and boosts industrial productivity and efficiency.
Ingersoll Rand was formed through the merger of Gardner Denver and Ingersoll Rand's industrial segment. It caters to various end markets, including industrial, medical, and energy sectors. The company offers a broad range of products, including compression systems, blower and vacuum solutions, and fluid management systems. In 2023, Ingersoll Rand generated approximately $6.9 billion in revenue, reflecting its robust financial performance and market presence.
Ingersoll Rand is committed to sustainable progress and enduring results, aiming to advance the quality of life globally. Its recent partnership with Inkbit™, a pioneer in advanced additive manufacturing solutions, underscores its dedication to innovation and technological advancement. This collaboration focuses on bringing Inkbit's Vision-Controlled Jetting™ (VCJ) technology to the market, revolutionizing product design and manufacturing across various industries, including robotics, healthcare, mobility, industrial automation, and defense.
The company's leadership team, including Vicente Reynal, Chairman and Chief Executive Officer, continues to drive growth and innovation. Ingersoll Rand's strategic investments and partnerships highlight its commitment to expanding its technological capabilities and market reach.
Latest News:
- MEDFORD, Mass., May 6, 2024 – Inkbit™ announced the closing of a $19M financing round led by Ingersoll Rand, with participation from several prominent investors. This funding will accelerate Inkbit's Vision-Controlled Jetting™ technology's market adoption and commercial use across life sciences and industrial applications.
SPX FLOW, Inc. (NYSE: FLOW) announced on July 26, 2021, that its Board of Directors is exploring strategic alternatives including a potential sale or merger, following a rejected unsolicited acquisition offer from Ingersoll Rand (NYSE: IR) for $85.00 per share. The Board believes the offers undervalue the company, which reported $1.4 billion in revenue in 2020. With guidance from Morgan Stanley and Winston & Strawn, SPX FLOW aims to engage with interested parties to maximize shareholder value. No further comments will be made until the review is concluded.
SPX FLOW, Inc. (NYSE: FLOW) announced the rejection of an unsolicited acquisition proposal from Ingersoll Rand Inc. (NYSE: IR) for $85.00 per share, determined to undervalue the company's growth potential. The Board of Directors evaluated the proposal with advisors and concluded it was not in the best interests of shareholders. SPX FLOW remains committed to executing its strategic plan aimed at delivering higher shareholder value and will provide updates during its Q2 2021 financial call on August 4, 2021.
Ingersoll Rand (NYSE:IR) announced a non-binding all-cash proposal to acquire SPX Flow (NYSE:FLOW) for $85 per share, representing a 37% premium over SPX Flow's recent closing price. SPX Flow's Board rejected this proposal on June 21, 2021, declining to engage in discussions, despite Ingersoll Rand's willingness to negotiate under a non-disclosure agreement. Ingersoll Rand expressed confidence in the bid's value, correlating it with SPX Flow's financial targets and asserting the strategic fit between the two companies. However, no assurances of a definitive agreement were provided.
Ingersoll Rand Inc. (NYSE: IR) is set to release its second-quarter earnings on July 28, 2021, after market closure. A live earnings conference call will take place on July 29, 2021, at 9 a.m. Eastern Time. Interested participants can dial in or access a real-time audio webcast via the Investor Relations website. The company emphasizes its commitment to providing industrial solutions and flow creation across over 40 brands, focusing on customer-centric excellence in challenging environments.
Ingersoll Rand Inc. (NYSE:IR) has announced its acquisition of Maximus, a provider of IIoT production management systems for agritech, for CAD$135.4 million. This all-cash transaction is set to close in Q3, pending regulatory approvals. Maximus, with annual revenues of CAD$40 million and a CAGR exceeding 30% over five years, will enhance Ingersoll Rand's digital capabilities. CEO Vicente Reynal highlighted the strategic alignment and anticipated synergies with existing brands, projecting significant value generation for shareholders within three years.
Ingersoll Rand (NYSE:IR) announced its acquisition of Seepex GmbH, a manufacturer of positive displacement pumps, for €431.5 million. The all-cash deal aims to enhance Ingersoll Rand's digital capabilities and aftermarket growth. Seepex, with about 800 employees and €160 million in annual revenue, has shown robust growth with a CAGR of high single digits since 2017. The acquisition is expected to close in Q3 2021, pending regulatory approvals, and could yield significant synergies, potentially reducing the purchase price multiple to low double digits by year three.
Ingersoll Rand (NYSE: IR) announced that its CEO, Vicente Reynal, and CFO, Vikram Kini, will join a virtual fireside chat hosted by Barclays on June 23, 2021, at 1:00 PM Eastern. This event will provide an opportunity for investors to gain insights into the company's strategies and operations. A live audio webcast of the chat will be available on Ingersoll Rand's Investor Relations website, with a replay accessible post-event.
Ingersoll Rand (NYSE:IR) has finalized the sale of its Specialty Vehicle Technologies Segment, known as Club Car, to Platinum Equity for $1.68 billion. This all-cash transaction, valued at approximately 12.1x 2020 adjusted EBITDA, significantly reduces Ingersoll Rand's net leverage to below 1.0x and enhances capital flexibility. The company plans to invest the capital into core technologies, focusing on sustainability and long-term growth. The sale will be reported as discontinued operations in Q2 2021, with prior periods recast for consistency.
Ingersoll Rand (NYSE: IR) announced that CFO Vikram Kini will participate in a virtual fireside chat at the Wolfe Global Transportation & Industrials Conference on May 27, 2021, at 3:50 PM ET. The event aims to discuss strategic insights and industry trends. Investors can access a real-time webcast and a replay on the Ingersoll Rand Investor Relations website. The company emphasizes its commitment to technology-driven excellence in mission-critical flow creation across over 40 trusted brands.
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