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Highlights

  • Acquisition valued at approximately EUR160 million with synergy-adjusted multiple projected in single digits
  • TMIC and Adicomp operations to be integrated into Industrial Technologies and Services segment
  • Businesses expand Ingersoll Rand’s competencies in air and gas compressor technologies 

Ingersoll Rand Inc. (NYSE: IR) has acquired Termomeccanica Industrial Compressors S.p.A. (TMIC) and its subsidiary Adicomp S.p.A. in a transaction valued at around EUR160 million. The company stated that the purchase was made at a low-double-digit multiple and is expected to result in a mid-to-high single-digit post-synergy multiple. TMIC/Adicomp will become part of the Industrial Technologies and Services (IT&S) segment. 

Based in Davidson, North Carolina, Ingersoll Rand operates globally in mission-critical flow creation, life science, and industrial solutions. The company manages over 80 brands and delivers equipment and services used in complex and demanding environments. 

TMIC has over 100 years of experience in designing and producing air and gas compressors. Adicomp offers engineered-to-order solutions in the renewable natural gas (RNG) sector. The businesses are headquartered in Italy and maintain operations in North America, Brazil, and India. According to Ingersoll Rand, the acquisition expands its footprint in RNG gas-ends and packaging systems. 

“TMIC/Adicomp are leading businesses in their respective industries, and today we welcome them to Ingersoll Rand,” said Vicente Reynal, chairman and chief executive officer. He added that the transaction reflects the company’s ongoing M&A approach and its ability to partner with family-owned businesses on a proprietary basis. 

The company noted that both businesses are expected to support existing product offerings while expanding competencies across multiple regions and applications.