Ingersoll Rand to Acquire SPX FLOW’s Air Treatment Business

Ingersoll Rand Acquires Controlled Fluidics and Ethafilter s.r.l.

April 3, 2024

Manufacturing

Ingersoll Rand Inc. has closed two acquisitions: Controlled Fluidics, a U.S.-based thermoplastic bonding and custom plastic assembly specialist serving life sciences and other high-growth end markets, and Ethafilter s.r.l., an Italy-based producer of filters and filter elements for the compressed air sector. The deals expand Ingersoll Rand's product portfolio and aftermarket capabilities, strengthening its position in life sciences, sterile filtration, and air treatment markets.

Ingersoll Rand Acquires Air Dimensions Inc.

October 28, 2021

Manufacturing

Ingersoll Rand Inc. agreed to acquire Air Dimensions Inc. for $70.5 million in an all-cash transaction that closed Oct. 29, 2021, adding the vacuum diaphragm pump maker to its Precision and Science Technologies segment. Air Dimensions, a family‑owned manufacturer based in Deerfield Beach, Florida, supplies pumps for emission monitoring, biogas, utility and chemical processes; owners Greg and David English plan to retire after a transition period.

Filtration Group (Madison Industries) Acquires Flow Dry Technology

March 5, 2020

Manufacturing

Filtration Group, a Madison Industries company, acquired Flow Dry Technology, a designer and manufacturer of desiccant bags, value-added assemblies, and moisture-protection solutions. The acquisition marks an exit for Argosy Private Equity, which had owned Flow Dry since 2014; Flow Dry is headquartered in Brookville, Ohio with additional manufacturing facilities in China and Hungary.

Lone Star Funds Acquires SPX FLOW (SPX FLOW acquisition)

April 5, 2022

Industrial Services

SPX FLOW agreed to be acquired by an affiliate of Lone Star Funds in an all-cash transaction valued at $3.8 billion (including assumed debt). The deal successfully closed in April 2022, and SPX FLOW became privately held with its NYSE listing discontinued.

Ingersoll Rand to Acquire Everest Group and Airmax Groupe

October 27, 2022

Industrial Services

Ingersoll Rand entered into agreements to acquire Everest Group (Everest Blowers Private Limited and Everest Blower Systems Private Limited) and Airmax Groupe for an aggregate all-cash upfront purchase price of approximately $86 million, with additional potential consideration tied to Everest financial targets. The deals are expected to close in the fourth quarter of 2022 and will expand Ingersoll Rand’s offerings and market presence, including in India and France.

SPX Technologies Acquires Ingénia Technologies

February 7, 2024

Manufacturing

SPX Technologies announced the acquisition of Ingénia Technologies for approximately CA$405 million (about US$300 million) in cash, adding a Mirabel, Quebec–based designer and manufacturer of custom air handling units to its Cooling platform. Ingénia, expected to generate roughly US$100 million of annualized revenue in 2024, expands SPX's Engineered Air Movement capabilities and is accretive to the company's HVAC segment growth and margin profile.