Ingersoll Rand Inc. - IR STOCK NEWS

Ingersoll Rand (NYSE:IR) has announced its agreement to acquire SPX FLOW's Air Treatment business for approximately $525 million. This strategic move, expected to close in Q4 2022, will add a complementary product portfolio including air dryers and filtration systems, with anticipated revenue of $180 million in 2022. Nearly half of its revenue is expected from recurring aftermarket offerings. The deal is projected to enhance EBITDA margins significantly, aiming for over 30% by the third year post-acquisition.

Ingersoll Rand (NYSE:IR) has acquired Dosatron International for approximately $90 million, with potential future payments up to $15 million. This strategic acquisition enhances Ingersoll Rand’s digital technology portfolio in high-growth markets such as hydroponics, animal health, and water treatment. Positioned in Clearwater, Florida, Dosatron is recognized for its innovative water-powered dosing solutions and customer-centric approach. The deal is expected to realize synergy benefits, reducing the EBITDA purchase multiple from 10x to less than 8x by year three.

Ingersoll Rand Inc. (NYSE:IR) has announced a donation of up to $100,000 to La Escuelita Bilingual Preschool, with $20,000 committed for 2022 and continuing for the next four years. This initiative aims to support scholarships for children from low-income families, pay teachers, and enhance educational outcomes for Spanish-speaking children in the Lake Norman area. The partnership highlights Ingersoll Rand's commitment to community equity and educational improvement.

Ingersoll Rand is set to acquire Pedro Gil Construcciones Mecánicas for approximately $30 million, enhancing its presence in the Spanish market with a notable brand that generates $15 million in annual revenue. Concurrently, the company has acquired Westwood Technical, expanding its Industrial Internet of Things (IIoT) offerings through the innovative Aircom technology platform. These strategic acquisitions aim to bolster Ingersoll Rand's product portfolio and operational capabilities, with expected EBITDA multiples decreasing significantly over the next few years.

Ingersoll Rand Inc. (NYSE: IR) has announced key investor events scheduled for September 2022. Vicente Reynal (Chairman and CEO) and Vik Kini (CFO) will participate in a fireside chat at the Vertical Research Partners Global Industrials Conference on September 7, 2022, at 1:20 PM ET. Additionally, they, along with Mike Weatherred (SVP, IRX), will be at the Morgan Stanley 10th Annual Laguna Conference on September 15, 2022, at 8:10 AM PT. Investors can access a live audio webcast of the latter event on the Ingersoll Rand Investor Relations website.

Ingersoll Rand reported strong second-quarter 2022 results, with record orders of $1,599 million and revenues of $1,440 million, marking an increase of 10% and 13%, respectively. Net income reached $139 million, or $0.34 per share, while adjusted EBITDA rose 15% to $335 million. The company raised its 2022 revenue growth guidance to 11%-13% and reaffirmed its EBITDA range of $1,395 million to $1,425 million. Ingersoll Rand also made three acquisitions and repurchased shares worth $153 million.

Ingersoll Rand Inc. (NYSE:IR) appointed Mark Stevenson and Michael Stubblefield to its Board of Directors on July 28, 2022. Stevenson, former COO of Thermo Fisher Scientific, brings extensive experience in sustainable markets and machine learning systems. Stubblefield, CEO of Avantor, has led successful product innovations and M&A strategies. Chairman Vicente Reynal expressed confidence that their expertise aligns with Ingersoll Rand's growth objectives in sustainable sectors and innovative technologies.