Ingersoll Rand Inc. (NYSE:IR) is one of the best industrial machinery stocks to buy according to analysts. On July 1, Ingersoll Rand Inc. (NYSE:IR) committed approximately €160 million to acquire Italian compressor manufacturer Termomeccanica Industrial Compressors S.p.A. (TMIC) and its subsidiary Adicomp S.p.A.
TMIC and Adicomp will join Ingersoll Rand’s Industrial Technologies and Services division. TMIC has more than a century of experience in designing and manufacturing air and gas compressors, while Adicomp offers engineered-to-order solutions for the renewable natural gas sector. The acquisition boosts Ingersoll Rand’s capacity to produce packaging and renewable natural gas gas-ends.
With an anticipated post-synergy multiple in the mid-to-high single digits, the acquisition was undertaken at what the company called an attractive low-double-digit multiple.
Ingersoll Rand Inc. provides essential air, fluid, and energy technology to scientific, industrial, and medical applications across the globe. Precision & Science Technologies and Industrial Technologies & Services are the company’s two primary business divisions.
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