Ingersoll-Rand Inc Stock Price, News & Analysis

Ingersoll Rand (NYSE:IR) announced a secondary offering of 29,788,635 shares by KKR Renaissance Aggregator L.P. The company will not sell any shares; all proceeds will go to the Selling Stockholder. Concurrently, Ingersoll Rand plans to repurchase 14,894,317 shares from the underwriter at the same price as the offering. The expected close date is August 6, 2021. J.P. Morgan Securities LLC is the underwriter for this offering. The registration statement has been filed and is effective, although no sale is valid until compliance with state laws.

Ingersoll Rand (NYSE:IR) announced an underwritten secondary offering of 29,788,635 shares of its common stock by KKR Renaissance Aggregator L.P. The offering will not involve any shares sold by Ingersoll Rand, with proceeds going entirely to the Selling Stockholder. Concurrently, Ingersoll Rand plans to repurchase 14,894,317 shares from the offering. J.P. Morgan Securities is the underwriter for this deal. The registration statement has become effective, and detailed prospectus information is available from J.P. Morgan.

Ingersoll Rand Inc. (NYSE:IR) has completed the acquisition of Maximus Solutions for CAD$135.4 million in cash. This strategic acquisition aims to enhance Ingersoll Rand's Precision and Science Technologies segment. Maximus Solutions has demonstrated strong double-digit revenue growth and focuses on sustainable markets, particularly in agritech, with an annual revenue of about CAD$40 million. The acquisition aligns with Ingersoll Rand's inorganic growth strategy, with expected Adjusted EBITDA margins improving within three years post-acquisition.

Ingersoll Rand (NYSE: IR) announced that Vicente Reynal, the CEO, and Vikram Kini, the CFO, will participate in a virtual fireside chat at the 2021 Jefferies Industrials Conference on August 3, 2021, at 1:30 PM Eastern time. The event will be accessible via a live webcast on the Ingersoll Rand Investor Relations website, and a replay will be available afterward. Ingersoll Rand focuses on providing mission-critical flow creation and industrial solutions across various sectors, leveraging technology and expertise.

Ingersoll Rand reported record orders and revenue growth in Q2 2021, fueled by a 53% increase in orders and 26% revenue growth in its Industrial Technologies and Services segment. The recent acquisitions of Seepex and Maximus Solutions are expected to grow the Precision and Science Technologies segment's market by $3.8 billion, enhancing shareholder value. The company also raised its full-year 2021 revenue and Adjusted EBITDA guidance, reflecting strong performance. Despite some cash flow outflows, Ingersoll Rand maintains a solid financial position with $4.7 billion in liquidity.

SPX FLOW, Inc. (NYSE: FLOW) announced on July 26, 2021, that its Board of Directors is exploring strategic alternatives including a potential sale or merger, following a rejected unsolicited acquisition offer from Ingersoll Rand (NYSE: IR) for $85.00 per share. The Board believes the offers undervalue the company, which reported $1.4 billion in revenue in 2020. With guidance from Morgan Stanley and Winston & Strawn, SPX FLOW aims to engage with interested parties to maximize shareholder value. No further comments will be made until the review is concluded.

SPX FLOW, Inc. (NYSE: FLOW) announced the rejection of an unsolicited acquisition proposal from Ingersoll Rand Inc. (NYSE: IR) for $85.00 per share, determined to undervalue the company's growth potential. The Board of Directors evaluated the proposal with advisors and concluded it was not in the best interests of shareholders. SPX FLOW remains committed to executing its strategic plan aimed at delivering higher shareholder value and will provide updates during its Q2 2021 financial call on August 4, 2021.

Ingersoll Rand (NYSE:IR) announced a non-binding all-cash proposal to acquire SPX Flow (NYSE:FLOW) for $85 per share, representing a 37% premium over SPX Flow's recent closing price. SPX Flow's Board rejected this proposal on June 21, 2021, declining to engage in discussions, despite Ingersoll Rand's willingness to negotiate under a non-disclosure agreement. Ingersoll Rand expressed confidence in the bid's value, correlating it with SPX Flow's financial targets and asserting the strategic fit between the two companies. However, no assurances of a definitive agreement were provided.