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Ingersoll Rand Boosts Product Portfolio With 3 Acquisitions
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Ingersoll Rand Inc. (IR - Free Report) recently completed the acquisition of Air Power Systems Co., LLC (“APSCO”), Blutek s.r.l. (Blutek) and UT Pumps & Systems Private Limited (UT Pumps) for a total price of around $135 million. So far this year, Ingersoll Rand has completed 14 acquisitions.
APSCO, Blutek and UT Pumps are based in the United States, Italy and India respectively. APSCO is engaged in producing hydraulic and pneumatic products and engineered solutions for specialty work truck vehicles. Its products include hydraulic coolers, systems, components, pneumatic consoles, cylinders, valves and switches.
Blutek designs and produces engineered compressed air and nitrogen generation solutions in crucial settings. UT Pumps manufactures screw pumps and triplex plunger pumps for end markets including water, wastewater, food and beverage, pharmaceuticals, general industrial and chemicals.
Acquisition Rationale of IR
The buyout of APSCO is in sync with Ingersoll Rand’s policy of acquiring businesses to strengthen its business and expand its market share. The acquisition will enable Ingersoll Rand to boost its position in the dry and liquid bulk markets with energy-efficient solutions. APSCO will be incorporated into IR’s Industrial Technologies and Services (IT&S) segment.
With the Blutek buyout, Ingersoll Rand will be able to enhance its competitiveness in high-specification projects by adding technology, expertise and aftermarket opportunities in fast-growing markets like biogas and carbon capture. The buyout will augment the IT&S segment.
The acquisition of UT Pumps will enhance IR’s product portfolio with new pump technology. Ingersoll Rand will integrate UT Pumps into its Precision and Science Technologies segment.
IR’s Zacks Rank
Ingersoll Rand is set to gain from a healthy demand environment and innovation capabilities. Higher orders for industrial vacuums and blowers are driving the growth of the Industrial Technologies & Services unit. Growth in short-cycle orders is aiding the Precision and Science Technologies segment. Benefits from acquired assets are driving the segment’s performance of late.
In the past year, this Zacks Rank #2 (Buy) company’s shares have risen 55.9% compared with the industry’s 35% growth.
Image Source: Zacks Investment Research
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Other top-ranked companies from the same space are discussed below.
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In the past 60 days, the Zacks Consensus Estimate for CR’s 2024 earnings has increased 0.4%.
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Ingersoll Rand Boosts Product Portfolio With 3 Acquisitions
Ingersoll Rand Inc. (IR - Free Report) recently completed the acquisition of Air Power Systems Co., LLC (“APSCO”), Blutek s.r.l. (Blutek) and UT Pumps & Systems Private Limited (UT Pumps) for a total price of around $135 million. So far this year, Ingersoll Rand has completed 14 acquisitions.
APSCO, Blutek and UT Pumps are based in the United States, Italy and India respectively. APSCO is engaged in producing hydraulic and pneumatic products and engineered solutions for specialty work truck vehicles. Its products include hydraulic coolers, systems, components, pneumatic consoles, cylinders, valves and switches.
Blutek designs and produces engineered compressed air and nitrogen generation solutions in crucial settings. UT Pumps manufactures screw pumps and triplex plunger pumps for end markets including water, wastewater, food and beverage, pharmaceuticals, general industrial and chemicals.
Acquisition Rationale of IR
The buyout of APSCO is in sync with Ingersoll Rand’s policy of acquiring businesses to strengthen its business and expand its market share. The acquisition will enable Ingersoll Rand to boost its position in the dry and liquid bulk markets with energy-efficient solutions. APSCO will be incorporated into IR’s Industrial Technologies and Services (IT&S) segment.
With the Blutek buyout, Ingersoll Rand will be able to enhance its competitiveness in high-specification projects by adding technology, expertise and aftermarket opportunities in fast-growing markets like biogas and carbon capture. The buyout will augment the IT&S segment.
The acquisition of UT Pumps will enhance IR’s product portfolio with new pump technology. Ingersoll Rand will integrate UT Pumps into its Precision and Science Technologies segment.
IR’s Zacks Rank
Ingersoll Rand is set to gain from a healthy demand environment and innovation capabilities. Higher orders for industrial vacuums and blowers are driving the growth of the Industrial Technologies & Services unit. Growth in short-cycle orders is aiding the Precision and Science Technologies segment. Benefits from acquired assets are driving the segment’s performance of late.
In the past year, this Zacks Rank #2 (Buy) company’s shares have risen 55.9% compared with the industry’s 35% growth.
Image Source: Zacks Investment Research
Other Stocks to Consider
Other top-ranked companies from the same space are discussed below.
Graham Corporation (GHM - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GHM delivered a trailing four-quarter average earnings surprise of 133.3%. In the past 60 days, the Zacks Consensus Estimate for Graham’s fiscal 2025 earnings has increased 17.3%.
Crane Company (CR - Free Report) presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the Zacks Consensus Estimate for CR’s 2024 earnings has increased 0.4%.
Parker-Hannifin Corporation (PH - Free Report) currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 2.6%.
In the past 60 days, the consensus estimate for Parker-Hannifin’s fiscal 2025 earnings has increased 1.3%.