Ingersoll Rand Agrees To Acquire ILC Dover From New Mountain Capital, LLC, For ~$2.325B
Portfolio Pulse from Benzinga Newsdesk
Ingersoll Rand has agreed to acquire ILC Dover from New Mountain Capital, LLC, for approximately $2.325 billion. The acquisition is expected to be immediately accretive to Ingersoll Rand's Precision and Science Technologies segment, with an upfront purchase multiple of about 17x 2024E Adjusted EBITDA. ILC Dover brings new technologies for life science applications, expands Ingersoll Rand's addressable market by over $10 billion, and increases access to life science solutions in various end markets.
March 25, 2024 | 11:08 am
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Ingersoll Rand's acquisition of ILC Dover for approximately $2.325 billion is expected to enhance its Precision and Science Technologies segment, add new life science technologies, and expand its market by over $10 billion.
The acquisition is immediately accretive to Ingersoll Rand's Precision and Science Technologies segment, indicating a positive impact on its financial performance. The addition of new technologies and expansion of the addressable market by over $10 billion suggest significant growth potential. The deal's focus on life science applications, a sector with sustainable growth tailwinds, further underscores its strategic importance.
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