Ingersoll-Rand to Buy Precision Flow Systems for $1.45 Billion
February 11 2019 - 7:13AM
Dow Jones News
By Chris Wack
Ingersoll-Rand Plc (IR) said Monday it agreed to acquire
Precision Flow Systems from funds advised by BC Partners Advisors
L.P. and Carlyle Group for $1.45 billion.
The Ireland-based company said Precision Flow Systems generated
sales of about $400 million in 2018, has about 1,000 employees and
operates seven global manufacturing locations.
Precision Flow would combine with Ingersoll-Rand's fluid
management business, which designs, manufactures, and markets pumps
for specialized fluid handling applications under the ARO
brand.
Ingersoll Rand plans to fund the proposed acquisition through
cash on hand and debt.
The acquisition is expected to close in mid-2019, and is seen
accretive to Ingersoll-Rand's earnings in the first year.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 11, 2019 06:58 ET (11:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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