Ingersoll Rand to Acquire SPX FLOW’s Air Treatment Business

DAVIDSON, N.C.--(BUSINESS WIRE)-- Ingersoll Rand Inc. (NYSE:IR), a global provider of mission-critical flow creation and industrial solutions, has entered into an agreement to acquire SPX FLOW’s Air Treatment business for approximately $525 million.
With expected revenue of approximately $180 million in 2022, the Air Treatment business is a leading manufacturer of reliable and energy efficient desiccant and refrigerated dryers, filtration systems and purifiers for dehydration in compressed air. The business has manufacturing capabilities in the U.S., Germany and South Korea with nearly 500 employees and goes to market through the highly recognized brands of Hankison®, Pneumatic Products®, Jemaco, Deltech® and Delair®.