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Ingersoll Rand (IR) Closes SPX FLOW Unit Acquisition Deal
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Ingersoll Rand (IR - Free Report) has completed the previously announced acquisition of SPX FLOW’s Air Treatment business for approximately $525 million.
The acquisition boosts IR’s core compressor product offering by adding a complementary product portfolio of energy-efficient compressed air dryers, filters and other consumables. The Air Treatment business is a part of IR’s Industrial Technologies and Services (IT&S) segment.
Ingersoll Rand expects the acquisition to be accretive to the IT&S segment’s adjusted EBITDA margins. It expects significant synergy improvements to drive adjusted EBITDA margins to more than 30% by year three.
Ingersoll Rand’s measures to expand market presence, solidify customer base and enhance product offerings through acquisitions are key catalysts to its growth. In October 2022, the company acquired Dosatron International, expanding its digital technology portfolio and opening up opportunities in hydroponics, horticulture, animal health, food safety and sanitation, along with water treatment end markets, where Dosatron had a strong presence.
In September 2022, IR acquired Westwood Technical Limited, expanding the Precision and Science Technologies segment’s IIoT offerings with Westwood Technical’s Aircom product line. In third-quarter 2022, buyouts positively impacted the company’s revenues by 3.8%. For 2022, Ingersoll Rand anticipates a revenue contribution of $225 million from the buyout/mergers.
Zacks Rank & Key Picks
Ingersoll Rand currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks within the broader Industrial Products sector are as follows:
MRC Global has an estimated earnings growth rate of 325.9% and 37.4% for 2022 and 2023, respectively. Shares of the company have rallied 11.9% in the past six months.
IDEX Corporation (IEX - Free Report) presently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of 5.7%, on average.
IDEX has an estimated earnings growth rate of 28.4% and 6.1% for 2022 and 2023, respectively. Shares of IEX have gained 25% in the past six months.
EnerSys (ENS - Free Report) delivered a trailing four-quarter earnings surprise of 27.1%, on average. ENS presently carries a Zacks Rank of 2.
EnerSys has an estimated earnings growth rate of 7.2% and 26.3% for fiscal 2023 and 2024, respectively. The stock increased 22.8% in the past six months.
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Ingersoll Rand (IR) Closes SPX FLOW Unit Acquisition Deal
Ingersoll Rand (IR - Free Report) has completed the previously announced acquisition of SPX FLOW’s Air Treatment business for approximately $525 million.
The acquisition boosts IR’s core compressor product offering by adding a complementary product portfolio of energy-efficient compressed air dryers, filters and other consumables. The Air Treatment business is a part of IR’s Industrial Technologies and Services (IT&S) segment.
Ingersoll Rand expects the acquisition to be accretive to the IT&S segment’s adjusted EBITDA margins. It expects significant synergy improvements to drive adjusted EBITDA margins to more than 30% by year three.
Ingersoll Rand Inc. Price
Ingersoll Rand Inc. price | Ingersoll Rand Inc. Quote
Ingersoll Rand’s measures to expand market presence, solidify customer base and enhance product offerings through acquisitions are key catalysts to its growth. In October 2022, the company acquired Dosatron International, expanding its digital technology portfolio and opening up opportunities in hydroponics, horticulture, animal health, food safety and sanitation, along with water treatment end markets, where Dosatron had a strong presence.
In September 2022, IR acquired Westwood Technical Limited, expanding the Precision and Science Technologies segment’s IIoT offerings with Westwood Technical’s Aircom product line. In third-quarter 2022, buyouts positively impacted the company’s revenues by 3.8%. For 2022, Ingersoll Rand anticipates a revenue contribution of $225 million from the buyout/mergers.
Zacks Rank & Key Picks
Ingersoll Rand currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks within the broader Industrial Products sector are as follows:
MRC Global Inc. (MRC - Free Report) presently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of approximately 103%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
MRC Global has an estimated earnings growth rate of 325.9% and 37.4% for 2022 and 2023, respectively. Shares of the company have rallied 11.9% in the past six months.
IDEX Corporation (IEX - Free Report) presently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of 5.7%, on average.
IDEX has an estimated earnings growth rate of 28.4% and 6.1% for 2022 and 2023, respectively. Shares of IEX have gained 25% in the past six months.
EnerSys (ENS - Free Report) delivered a trailing four-quarter earnings surprise of 27.1%, on average. ENS presently carries a Zacks Rank of 2.
EnerSys has an estimated earnings growth rate of 7.2% and 26.3% for fiscal 2023 and 2024, respectively. The stock increased 22.8% in the past six months.