Ingersoll Rand Completes Acquisition of 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 completed the acquisition of SPX FLOW’s Air Treatment business in an all-cash transaction of approximately $525 million.
The Air Treatment business adds a highly complementary product portfolio of energy efficient compressed air dryers, filters and other consumables with a high attachment rate to Ingersoll Rand’s core compressor product offering. The business has an attractive growth profile and nearly 50% of its expected 2022 revenue of approximately $180 million is from aftermarket sales to its large installed base.