Ingersoll Rand completes two acquisitions
Ingersoll Rand Inc., a global provider of mission-critical flow creation and industrial solutions, has completed the acquisitions of Oxywise and Fraserwoods Fabrication and Machining Ltd. for a combined all-cash purchase price of approximately $26 million.
Oxywise, based in Slovakia, increases Ingersoll Rand’s broader air treatment capabilities with onsite oxygen and nitrogen generating-systems based on pressure swing adsorption technology, cylinder filling systems, containerized systems and gas control solutions. Oxywise has established itself as a leader in attractive end-markets including medical, laser cutting, industrial and aquaculture with its gas distribution systems. The 41-person company has an annual revenue of approximately $10 million.
Fraserwoods provides services, repair and return, and remanufacturing of blowers and pumps to key original equipment manufacturers in the vacuum truck market. A majority of the company’s annual revenue of approximately $4 million comes from aftermarket services, which is supported by its installed base. The addition of Fraserwoods and its 13 employees expands Ingersoll Rand’s technical expertise and service capabilities in western Canada.
Both Oxywise and Fraserwoods will join Ingersoll Rand’s Industrial Technologies and Services (IT&S) segment.
“These acquisitions strengthen our company’s core capabilities and provide opportunities to grow our exposure in high-growth, sustainable end markets,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “We are excited to welcome the expertise and quality that Oxywise and Fraserwoods are known for in their respective markets.”
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
