Ingersoll Rand Further Enhances Air Treatment Capabilities with Two Acquisitions

Execution of bolt-on acquisition strategy continues to enhance company’s durable financial profile by adding highly complementary products and capabilities focused on high-growth, sustainable end markets

Acquisitions will expand Ingersoll Rand’s product and technology portfolio with additional chiller and onsite gas generation offerings and support the company’s in-region for the region strategy

Acquisitions have a combined pre-synergy Adjusted EBITDA purchase multiple of high-single digits

Ingersoll Rand Inc., a global provider of mission-critical flow creation and life science and industrial solutions, has acquired G & D Chillers, Inc. (“G & D”) and Advanced Gas Technologies Inc. (“AGT”) for a combined purchase price of approximately $27 million to further grow the company’s air treatment portfolio.

G & D, headquartered in the United States, builds premium glycol chillers to cool liquids, especially in applications requiring temperatures below freezing, like in breweries, wineries, and food processing. G & D expands Ingersoll Rand’s manufacturing, engineering, and Engineer to Order (ETO) capabilities for chillers in the North American market.

AGT, headquartered in Ontario, Canada, is a custom designer and supplier of onsite gas generation systems serving industrial customers primarily in Canada. This acquisition adds new packaging capabilities and an established channel presence.

G & D and AGT will both join the Industrial Technologies and Services segment (IT&S).

“I would like to extend a warm welcome to the employees of G & D and AGT,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “Both are solid businesses with strong performance and growth potential backed by great teams. Their offerings in the air treatment space will be beneficial as we continually look for ways to better serve our customers.”

About Ingersoll Rand Inc.

Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making Life Better for our employees, customers, shareholders, and planet. Customers lean on us for exceptional performance and durability in mission-critical flow creation and life science and industrial solutions. Supported by over 80+ respected brands, our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity, and efficiency. For more information, visit www.IRCO.com.

Contact:

Sara Hassell – Media Contact – sara.hassell@irco.com

Source: Ingersoll Rand Inc.