On Oct. 4, global pumps and compressors manufacturer Ingersoll Rand announced it has completed the acquisitions of Oxywise s.r.o. and Fraserwoods Fabrication and Machining Ltd. for a combined all-cash purchase price of approximately $26 million.
Both Oxywise and Fraserwoods will join Ingersoll Rand’s Industrial Technologies and Services (IT&S) segment.
“These acquisitions strengthen our company’s core capabilities and provide opportunities to grow our exposure in high-growth, sustainable end markets,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “We are excited to welcome the expertise and quality that Oxywise and Fraserwoods are known for in their respective markets.”
Oxywise, based in Slovakia, increases Ingersoll Rand’s broader air treatment capabilities with onsite oxygen and nitrogen generating-systems based on pressure swing adsorption technology, cylinder filling systems, containerized systems and gas control solutions, the company said. The 41-person company has an annual revenue of approximately $10 million.
Fraserwoods provides services, repair and return, and remanufacturing of blowers and pumps to key original equipment manufacturers in the vacuum truck market. A majority of the company’s annual revenue of approximately $4 million comes from aftermarket services, which is supported by its installed base, Ingersoll Rand said.
The addition of Fraserwoods and its 13 employees “expands Ingersoll Rand’s technical expertise and service capabilities in western Canada,” the company said.