Welcome to our dedicated page for Ingersoll-Rand news (Ticker: IR), a resource for investors and traders seeking the latest updates and insights on Ingersoll-Rand stock.
Ingersoll Rand Inc. reports developments tied to its mission-critical flow creation, life science and industrial solutions portfolio. Company news commonly covers operating results, order and revenue trends, segment performance, and regular capital-return actions such as cash dividends.
Updates also include bolt-on acquisitions that expand technologies within areas such as metering and dosing, compression, blower and vacuum, and fluid management. Recent acquisition activity added hydropneumatic accumulators, pulsation dampeners, calibration pots and instrumentation to the Precision and Science Technologies segment. Other recurring announcements address sustainability recognition, investor conference participation, governance matters and business outlook commentary.
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Ingersoll Rand Inc. (NYSE: IR) is set to release its second-quarter earnings on July 28, 2021, after market closure. A live earnings conference call will take place on July 29, 2021, at 9 a.m. Eastern Time. Interested participants can dial in or access a real-time audio webcast via the Investor Relations website. The company emphasizes its commitment to providing industrial solutions and flow creation across over 40 brands, focusing on customer-centric excellence in challenging environments.
Ingersoll Rand Inc. (NYSE:IR) has announced its acquisition of Maximus, a provider of IIoT production management systems for agritech, for CAD$135.4 million. This all-cash transaction is set to close in Q3, pending regulatory approvals. Maximus, with annual revenues of CAD$40 million and a CAGR exceeding 30% over five years, will enhance Ingersoll Rand's digital capabilities. CEO Vicente Reynal highlighted the strategic alignment and anticipated synergies with existing brands, projecting significant value generation for shareholders within three years.
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.