Ingersoll Rand Inc. (NYSE:IR), a provider of mission-critical flow creation and industrial services, has purchased Air Dimensions for $70.5 million. Air Dimensions designs, manufactures and sells vacuum diaphragm pumps for environmental applications.
The company will joining Ingersoll Rand’s Precision and Science Technologies segment. Air Dimensions annual revenues and high EBITDA margins will help Ingersoll Rand grow.
“The ability to expand our product portfolio, extend our reach in highly attractive end markets, further aftermarket exposure and welcome a team that shares our values makes the Air Dimensions transaction an excellent example of delivering on our inorganic growth strategy,” said Vicente Reynal, CEO of Ingersoll Rand.