Ingersoll Rand Inc. has acquired U.S.-based G & D Chillers and Canadian firm Advanced Gas Technologies Inc. (AGT) for a combined price of approximately $27 million. The acquisitions aim to strengthen the company's Industrial Technologies and Services segment with new capabilities in glycol chillers and onsite gas generation.
G & D Chillers specializes in premium glycol chillers used for sub-freezing temperature applications, including breweries, wineries, and food processing facilities. Based in the United States, G & D will expand Ingersoll Rand’s Engineer to Order (ETO) capacity, engineering expertise, and manufacturing footprint in North America.
AGT, headquartered in Ontario, Canada, designs and supplies custom onsite gas generation systems for industrial customers. The acquisition enhances Ingersoll Rand’s product packaging capabilities and increases its channel reach within the Canadian market.
Both acquisitions support Ingersoll Rand’s strategy to deliver in-region solutions and target high-growth, sustainable end markets. The combined transactions reflect a pre-synergy Adjusted EBITDA purchase multiple in the high-single digits.
“I would like to extend a warm welcome to the employees of G & D and AGT,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “Both are solid businesses with strong performance and growth potential backed by great teams. Their offerings in the air treatment space will be beneficial as we continually look for ways to better serve our customers.”