Ingersoll Rand Acquires Dryer & Chiller Maker Friulair - Modern Distribution Management

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Ingersoll Rand Acquires Dryer & Chiller Maker Friulair

Bought for $146 million, Friulair has 215 employees and has annual revenue of about $65 million.
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Flow creation and industrial solutions provider Ingersoll Rand acquired Italy-based dryer, filter, aftercooler and accessories maker Friulair S.r.l. for approximately $146 million in a deal announced Feb. 1.

Friulair is primarily known for its solutions for the treatment of compressed air, along with its chiller product line.

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Ingersoll Rand said the addition will increase the scale of its air dryer business, significantly increasing the company’s access to the original equipment manufacturer channel and will add new chiller production capabilities. It also adds manufacturing locations in Cervignano del Friuli, Italy and Si Racha Chon Buri, Thailand.

Friulair employs approximately 215 people and has approximately $65 million in revenue. Through the realization of synergies and the deployment of IRX, Ingersoll Rand expects to realize Adjusted EBITDA margins in excess of 30% by year three of ownership.

“Acquiring Friulair will give us the opportunity to accelerate growth across food and beverage and pharmaceutical end markets, in addition to scaling our existing air treatment business,” said Vicente Reynal, Ingersoll Rand Chairman and CEO of Ingersoll Rand.

Friulair will join Ingersoll Rand’s Industrial Technologies and Services (IT&S) segment.

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