Ingersoll Rand Inc., a global provider of mission-critical flow creation and life science and industrial solutions, has acquired Air Power Systems Co., LLC, Blutek s.r.l., and UT Pumps & Systems Private Limited for a combined purchase price of approximately USD 135M.
These acquisitions add more than USD 50M in revenue cumulatively acquired at a high-single digit multiple of 2024 estimated adjusted EBITDA.
APSCO, based in Oklahoma, is a provider of hydraulic and pneumatic products and engineered solutions serving diverse specialty work truck vehicles. The acquisition will expand Ingersoll Rand’s leading position in the dry and liquid bulk markets with energy efficient, innovative solutions. APSCO will join the Industrial Technologies and Services segment.
Blutek, based in Italy, specializes in the design and production of highly engineered solutions for compressed air and nitrogen generation in mission-critical environments. As a certified supplier to Engineering, Procurement, and Construction companies, Blutek will increase Ingersoll Rand’s ability to compete in high specification projects, adding technology capabilities, expertise, and aftermarket potential in high-growth end markets including biogas and carbon capture. The business will join the IT&S segment.
UT Pumps is an Indian manufacturer of screw pumps and triplex plunger pumps. This acquisition adds new pump technology to Ingersoll Rand’s portfolio. Its high-pressure pumps are mainly focused on attractive end markets including water, wastewater, food and beverage, pharmaceuticals, general industrial, and chemicals. UT Pumps will join the Precision and Science Technologies segment.
