Ingersoll-Rand to Buy Precision Flow Systems for $1.45 Billion

Datum : 11/02/2019 @ 13h13
Quelle : Dow Jones News
Name : Ingersoll-Rand Plc (Ireland) (IR)
Kurs : 124.7  -0.55 (-0.44%) @ 02h00
Ingersoll Rand A share price Chart

Ingersoll-Rand to Buy Precision Flow Systems for $1.45 Billion

Ingersoll Rand A (NYSE:IR)
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By Chris Wack

 

Ingersoll-Rand Plc (IR) said Monday it agreed to acquire Precision Flow Systems from funds advised by BC Partners Advisors L.P. and Carlyle Group for $1.45 billion.

The Ireland-based company said Precision Flow Systems generated sales of about $400 million in 2018, has about 1,000 employees and operates seven global manufacturing locations.

Precision Flow would combine with Ingersoll-Rand's fluid management business, which designs, manufactures, and markets pumps for specialized fluid handling applications under the ARO brand.

Ingersoll Rand plans to fund the proposed acquisition through cash on hand and debt.

The acquisition is expected to close in mid-2019, and is seen accretive to Ingersoll-Rand's earnings in the first year.

 

Write to Chris Wack at chris.wack@wsj.com

 

(END) Dow Jones Newswires

February 11, 2019 06:58 ET (11:58 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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