Ingersoll Rand Expands With Key Acquisitions of G & D Chillers and AGT

Deal News | Apr 15, 2025 | Globenewswire

Ingersoll Rand Expands With Key Acquisitions of G & D Chillers and AGT

Ingersoll Rand Inc., a prominent global provider of industrial solutions, has fortified its air treatment capabilities through the strategic acquisitions of G & D Chillers, Inc. and Advanced Gas Technologies Inc. (AGT) for approximately $27 million. This move is in line with the company's bolt-on acquisition strategy to grow its air treatment portfolio, expanding its product and technology offerings into high-growth, sustainable end markets. The acquisitions will enhance Ingersoll Rand's manufacturing, engineering, and custom packaging capabilities, as well as bolster its presence in both the North American market and the onsite gas generation sector. G & D and AGT will integrate into Ingersoll Rand's Industrial Technologies and Services segment, promising significant synergies through a high-single digits EBITDA purchase multiple. Ingersoll Rand CEO Vicente Reynal expresses optimism, citing the acquisitions as instrumental in achieving the company's goals of superior customer service and market expansion.

Sectors

  • Industrial Manufacturing
  • Air Treatment and Climate Control

Geography

  • United States – G & D Chillers, one of the acquired companies, is headquartered in the United States, expanding Ingersoll Rand's capabilities in the North American market.
  • Canada – Advanced Gas Technologies Inc. (AGT), another acquired company, is based in Ontario, demonstrating Ingersoll Rand's geographical expansion into Canada.

Industry

  • Industrial Manufacturing – The article is primarily concerned with Ingersoll Rand's expansion of its product offerings, specifically in the industrial manufacturing domain through the acquisition of companies involved in chillers and gas generation systems.
  • Air Treatment and Climate Control – This sector is relevant as the acquisitions directly enhance Ingersoll Rand's capabilities in air treatment technologies, including chillers and gas generation systems.

Financials

  • $27 million – The combined purchase price for the acquisitions of G & D Chillers and Advanced Gas Technologies Inc.
  • High-single digits EBITDA multiple – The pre-synergy EBITDA purchase multiple for the acquisitions, indicating potential for financial synergy development.

Participants

NameRoleTypeDescription
Ingersoll Rand Inc.Acquiring CompanyCompanyIngersoll Rand is a global provider of flow creation and solutions for life science and industrial activities, driving growth through strategic acquisitions.
G & D Chillers, Inc.Target CompanyCompanyBased in the US, G & D Chillers specializes in manufacturing glycol chillers for cooling in various industrial applications.
Advanced Gas Technologies Inc.Target CompanyCompanyHeadquartered in Ontario, Canada, AGT designs and supplies onsite gas generation systems for industrial customers.