Ingersoll Rand Inc. has strengthened its portfolio with the acquisitions of Air Power Systems Co., LLC (APSCO), Blutek s.r.l., and UT Pumps & Systems Private Limited for approximately $135 million. These acquisitions are set to enhance the company's offerings by adding over $50 million in revenue, acquired at a favorable EBITDA multiple.
APSCO, a U.S.-based leader in hydraulic and pneumatic products for specialty work trucks, will bolster Ingersoll Rand's capabilities in the dry and liquid bulk markets. Italy's Blutek brings expertise in compressed air and nitrogen generation, enhancing Ingersoll Rand's position in high-growth sectors like biogas and carbon capture. India's UT Pumps will add advanced pump technology in key markets such as water and pharmaceuticals.
“These acquisitions align with our growth strategy, focusing on sustainability, innovation, and aftermarket development,” remarked Vicente Reynal, CEO of Ingersoll Rand.
These latest additions mark Ingersoll Rand's 14th acquisition in 2023, reflecting its ongoing commitment to strategic capital deployment.
