Home » Ingersoll-Rand to Acquire Trane Inc. for $10.1B
Ingersoll-Rand to Acquire Trane Inc. for $10.1B
December 17, 2007
Ingersoll-Rand Company Ltd., Hamilton, Bermuda, has agreed to acquire Trane Inc., formerly American Standard Companies Inc., Piscataway, NJ, for $10.1 billion, including the assumption of $150 million of Trane net debt.   ; Trane is a manufacturer of indoor climate control systems, services and solutions with expected 2007 revenues of $7.4 billion.   ; According to Ingersoll Rand, the acquisition will form a $17 billion global industrial company, which includes an $11 billion Climate Control business. Trane's commercial and residential climate control business complements Ingersoll Rand's Hussmann and Thermo King brands.   ; The total value was $47.81 per Trane share based on the closing price as of Dec. 14, 2007.   ; Trane Inc., previously named American Standard Companies Inc., provides systems and services in energy-efficient heating, ventilation and air conditioning systems; dehumidifying and air cleaning products; service and parts support; advanced building controls; and financing solutions. The company serves commercial, residential, institutional and industrial markets. Trane has more than 29 production facilities.   ; Ingersoll Rand's annual revenues are projected to be $8.7 billion. The company has 80 manufacturing facilities worldwide.