Ingersoll Rand to Acquire SPX FLOW’s Air Treatment Business
October 6, 2022
Ingersoll Rand entered into an agreement to acquire SPX FLOW’s Air Treatment business for approximately $525 million in an all-cash transaction. The business makes desiccant and refrigerated compressed air dryers, filtration systems, and purifiers, with nearly 50% of revenue coming from recurring aftermarket sources. The deal is expected to close in the fourth quarter after regulatory approvals, integrating the business into Ingersoll Rand’s Industrial Technologies and Services segment.
- Buyers
- Ingersoll Rand Inc.
- Targets
- SPX FLOW's Air Treatment business
- Sellers
- SPX FLOW
- Industry
- Industrial Services
- Location
- North Carolina, United States
- Transaction Type
- Buyout
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