DAVIDSON, N.C.--(BUSINESS WIRE)--Ingersoll Rand Inc. (NYSE: IR), a global provider of mission-critical flow creation and industrial solutions, completed the acquisition of Albin Pump SAS (Albin) headquartered in Montelimar, France. The transaction was completed with cash on hand and fits strategically with the company’s intention to expand its offering of fluid management technologies and drive more sustainability into pump applications.
Electric peristaltic pumps are one of the fastest growing positive displacement technologies and yield strong aftermarket opportunities. Albin has 30 years of experience as a leading manufacturer of electric peristaltic pumps, and will join the Precision and Science Technologies segment led by Nick Kendall-Jones.
“The Albin business possesses strong technological expertise in niche applications and end markets, and we are pleased to welcome them to the Ingersoll Rand family,” said Kendall-Jones. “The technologies align well with our current brands and will continue to position Ingersoll Rand for growth as an industry leader in pump and fluid technologies.”
Albin brings extensive knowledge in customer applications and its products are commonly used in the same strategic markets as other Ingersoll Rand products, including water (municipal and industrial), chemical processing, food and beverage and mining. Albin will complement the product lines of ARO®, Milton Roy® and other Ingersoll Rand brands.
Christian Söderholm, a principal owner and the managing director of Albin, who will join Ingersoll Rand along with the Albin employees as part of the acquisition, commented, “Ingersoll Rand is the best fit and long-term strategic partner for our business. I look forward to driving continued profitable growth as we integrate Albin within the Precision and Science Technologies portfolio.”
About Ingersoll Rand Inc.
Ingersoll Rand Inc. (NYSE: IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for our employees, customers and communities. Customers lean on us for our technology-driven excellence in mission-critical flow creation and industrial solutions across 40+ respected brands where 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.
Forward-Looking Statements
This news release contains “forward-looking statements” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including statements regarding growth and the completed Transaction (the “Transaction”) between Ingersoll Rand Inc. and Albin Pump SAS. All statements, other than historical facts, including, but not limited to, statements regarding the expected benefits of the Transaction, including future growth and strategic benefits, and any assumptions underlying any of the foregoing, are forward-looking statements. These forward-looking statements are based on Ingersoll Rand’s current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from these current expectations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Additional factors that could cause Ingersoll Rand’s results to differ materially from those described in the forward-looking statements can be found under the section entitled “Risk Factors” in its most recent annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as updated in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2020, as such factors may be updated from time to time in its periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. The foregoing list of important factors is not exclusive.
Any forward-looking statements speak only as of the date of this release. Ingersoll Rand undertakes no obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
