Ingersoll-Rand Inc Stock Price, News & Analysis

Ingersoll Rand (NYSE:IR) announced its acquisition of Seepex GmbH, a manufacturer of positive displacement pumps, for €431.5 million. The all-cash deal aims to enhance Ingersoll Rand's digital capabilities and aftermarket growth. Seepex, with about 800 employees and €160 million in annual revenue, has shown robust growth with a CAGR of high single digits since 2017. The acquisition is expected to close in Q3 2021, pending regulatory approvals, and could yield significant synergies, potentially reducing the purchase price multiple to low double digits by year three.

Ingersoll Rand (NYSE: IR) announced that its CEO, Vicente Reynal, and CFO, Vikram Kini, will join a virtual fireside chat hosted by Barclays on June 23, 2021, at 1:00 PM Eastern. This event will provide an opportunity for investors to gain insights into the company's strategies and operations. A live audio webcast of the chat will be available on Ingersoll Rand's Investor Relations website, with a replay accessible post-event.

Ingersoll Rand (NYSE:IR) has finalized the sale of its Specialty Vehicle Technologies Segment, known as Club Car, to Platinum Equity for $1.68 billion. This all-cash transaction, valued at approximately 12.1x 2020 adjusted EBITDA, significantly reduces Ingersoll Rand's net leverage to below 1.0x and enhances capital flexibility. The company plans to invest the capital into core technologies, focusing on sustainability and long-term growth. The sale will be reported as discontinued operations in Q2 2021, with prior periods recast for consistency.

Ingersoll Rand (NYSE: IR) announced that CFO Vikram Kini will participate in a virtual fireside chat at the Wolfe Global Transportation & Industrials Conference on May 27, 2021, at 3:50 PM ET. The event aims to discuss strategic insights and industry trends. Investors can access a real-time webcast and a replay on the Ingersoll Rand Investor Relations website. The company emphasizes its commitment to technology-driven excellence in mission-critical flow creation across over 40 trusted brands.

Ingersoll Rand Inc. (NYSE:IR) announced the pricing of a secondary offering by KKR Renaissance Aggregator L.P. of 14,924,081 shares at $49.00 each. Ingersoll Rand will not sell any shares, with proceeds going entirely to the Selling Stockholder. The offering is set to close on May 13, 2021, pending customary conditions. Goldman Sachs and Citigroup are the underwriters. A registration statement for these securities has been filed and is effective. This release contains forward-looking statements subject to risks and uncertainties.

Ingersoll Rand (NYSE:IR) announced that KKR Renaissance Aggregator L.P. plans to sell 14,924,081 shares of its common stock in a secondary offering. This sale will be conducted under a registration statement filed with the SEC, with all proceeds going to the Selling Stockholder; Ingersoll Rand will not receive any proceeds. Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are the underwriters for this offering. No shares are being sold by Ingersoll Rand, and the offering is subject to applicable laws.

Ingersoll Rand (NYSE: IR) has announced a partnership with Engineers Without Borders (EWB) to enhance global community development and infrastructure. This initiative aims to provide sustainable solutions in water, sanitation, and energy for underserved communities. Starting May 2021, Ingersoll Rand employees can volunteer on EWB projects, leveraging their expertise for impactful contributions. The collaboration aligns with Ingersoll Rand's ESG goals, emphasizing their commitment to improving lives in over 45 countries through engineering-driven solutions.

Ingersoll Rand (NYSE: IR) announced that Vicente Reynal (President & CEO) and Vikram Kini (CFO) will participate in a virtual fireside chat at the Goldman Sachs Industrials & Materials Conference on May 11, 2021, at 10:30 AM ET. Investors can access the real-time webcast through the Events and Presentations section of their Investor Relations website. A replay will be available post-event. Ingersoll Rand focuses on delivering innovative and technology-driven industrial solutions across its extensive brand portfolio.

Ingersoll Rand (NYSE: IR) reported robust first-quarter results for 2021, with significant double-digit organic orders and revenue growth. CEO Vicente Reynal attributed this success to the company’s strategic focus and the transformative IRX initiative. Key achievements include the sale of a majority interest in its High Pressure Solutions business and an agreement to sell Club Car for around $2 billion, which will enable further investment in core segments. The company also set ambitious diversity goals, reflecting its commitment to creating a positive workplace culture.