Ingersoll Rand To Acquire ILC Dover - Quick Facts

(RTTNews) - Ingersoll Rand Inc. (IR) has entered into an agreement to acquire ILC Dover from New Mountain Capital, LLC. The deal includes an upfront cash purchase price of approximately $2.325 billion and an earnout tied to the achievement of select operating efficiency metrics in 2024. ILC is specialized in the design and production of solutions for biopharmaceutical, pharmaceutical, and medical device markets, and is a supplier for the space industry. Ingersoll Rand expects the acquisition to be immediately accretive to growth and margin rates.

In connection with the acquisition, Ingersoll Rand will establish a life sciences platform within its P&ST segment, consisting of ILC plus Ingersoll Rand's life science-focused brands. Corey Walker, ILC President and CEO, will lead the life sciences platform and join the Ingersoll Rand leadership team.