Ingersoll-Rand Company has acquired the global low-pressure air business of BOC Edwards. The acquisition is not connected with the impending divestment of BOC Edwards' equipment businesses announced by Linde in early September.
"This acquisition augments our leadership as a global provider of innovative and comprehensive compressed air solutions," said Herbert L. Henkel, chairman, president and chief executive officer for Ingersoll Rand. "Through this transaction, we will be able to extend the range of innovative compressed air technologies and services we can provide to diverse markets, such as industrial, environmental, transportation and power, as well as widen our global distribution network."
Under terms of the agreement, Ingersoll Rand has acquired the equity of BOC Edwards' businesses Hibon, Inc., in Montreal, and Wilhelm Klein GmbH, in Esslingen, Germany. The company has also purchased related business assets, including the Hibon, Wilhelm Klein and Hick Hargreaves low-pressure air lines, and employees operating in Brussels, Roubaix, France, and Bolton, the United Kingdom. Additional terms were not disclosed.
The pressure business develops, manufactures, sells and services a complete line of multistage centrifugal blowers and industrial and mobile positive-displacement blowers, complementing Ingersoll Rand's existing line of compressed air technologies and services. Blowers are used to pneumatically convey liquids and powders in transportation and industrial applications, and have diverse applications in wastewater and power industries.
The pressure business will operate as part of Ingersoll Rand Air Solutions, a business unit of Ingersoll Rand's Industrial Technologies Sector.