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Ingersoll-Rand PLC (IR) Q4 2020 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Ingersoll Rand closes acquisition of Tuthill Vacuum and Blower Systems 9 February 2021 Based in Springfield, Missouri, Tuthill Vacuum and Blower Systems operates under the tradenames MD Pneumatics and Kinney Vacuum Pumps. The business employs around 160 people and has annual revenues of approximately US$60 million. “We welcome the MD Pneumatics and Kinney Vacuum Pumps team and the exceptional line of products, technologies and application expertise to the Ingersoll Rand family,” said Gary Gillespie, vice president and general manager of the Ingersoll Rand Industrial Technologies and Services (IT&S) Americas business. “With strong complementary technology and commercial opportunities, the MD Pneumatics and Kinney Vacuum products will offer our customers a diverse mix of critical flow solutions to address their specific needs and continue to accelerate Ingersoll Rand’s growth plans.” ....
Ingersoll Rand Completes Acquisition of Tuthill Vacuum and Blower Systems The company said this acquisition “fits strategically with the company’s portfolio of air compression technologies and operates under the trade names MD Pneumatics and Kinney Vacuum Pumps.” Author Ingersoll Rand Inc. (NYSE:IR), Davidson, North Carolina, on Monday announced it has completed the acquisition of Tuthill Vacuum and Blower Systems, Springfield, Missouri, for $184 million. The company said this transaction, announced on Dec. 10, 2020, was completed with cash on hand and “fits strategically with the company’s portfolio of air compression technologies and operates under the tradenames MD Pneumatics and Kinney Vacuum Pumps.” ....
Missouri-based Tuthill has about 160 employees and annual revenue of $60 million. Dec 11th, 2020 DAVIDSON, NC Ingersoll Rand Inc., a global provider of mission-critical flow creation and industrial solutions, has entered into an agreement to acquire the assets of Tuthill Vacuum and Blower Systems. The all-cash transaction, valued at $184 million, is expected to close Q1 or earlier upon obtaining required regulatory approvals and necessary third-party consents. “We are excited to welcome the Tuthill Vacuum and Blower Systems team to the Ingersoll Rand family. This transaction delivers on our commitment to significantly accelerate our growth plan and demonstrates our ability to seek out premium and iconic industrial brands with strong complementary technology and commercial growth opportunities,” remarked Vicente Reynal, chief executive officer of Ingersoll Rand. “Following our disciplined capital allocation strategy, we are paying a multiple largely in line with ....