Ingersoll Rand Completes Acquisition of Precision Flow Systems
SWORDS, Ireland--(BUSINESS WIRE)--May 16, 2019--
Ingersoll-Rand plc (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, today announced it has completed the acquisition of Precision Flow Systems (“PFS”) from funds advised by BC Partners Advisors L.P. and The Carlyle Group. The transaction was completed on May 15, 2019 for $1.45 billion.
PFS is a leading provider of fluid management systems with world class brands including Milton Roy ®, LMI ®, Haskel ®, BuTech ®, Dosatron ®, YZ Systems ®, Williams ® and Hartell ®. It serves mission-critical applications including water, precision irrigation, oil and gas, chemical and industrial. PFS generated sales of approximately $400 million in 2018, has approximately 1,000 employees and operates seven global manufacturing locations.
About Ingersoll Rand
Ingersoll Rand (NYSE:IR) advances the quality of life by creating comfortable, sustainable and efficient environments. Our people and our family of brands — including Club Car ®, Ingersoll Rand ®, Thermo King ® and Trane ® — work together to enhance the quality and comfort of air in homes and buildings; transport and protect food and perishables; and increase industrial productivity and efficiency. We are a global business committed to a world of sustainable progress and enduring results. For more information, visit ingersollrand.com.
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KEYWORD: EUROPE IRELAND
INDUSTRY KEYWORD: BUILDING SYSTEMS RETAIL SPECIALTY CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: Ingersoll-Rand plc
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PUB: 05/16/2019 06:30 AM/DISC: 05/16/2019 06:30 AM