Ingersoll-Rand Announces Offer To Acquire Precision Flow Systems For $1.45 Bln

(RTTNews) - Ingersoll-Rand plc (IR) announced it has made a binding offer to acquire Precision Flow Systems from funds advised by BC Partners Advisors L.P. and The Carlyle Group for $1.45 billion. Precision Flow Systems is a provider of fluid management systems. It serves mission critical applications including water, agriculture, food and beverage, pharmaceuticals and process industries.

"The proposed acquisition of PFS will accelerate the strategic growth of our highly profitable Fluid Management business in our Industrial segment, while significantly diversifying and enhancing our product portfolio," said Michael Lamach, CEO of Ingersoll Rand.

PFS generated sales of approximately $400 million in 2018. Ingersoll Rand plans to fund the proposed acquisition through a combination of cash on hand and debt.