Insider Brief:
- Ingersoll Rand has announced it will acquire ILC Dover from New Mountain Capital for $2.3 billion in cash upfront.
- This strategic move is expected to establish a significant foothold in the life sciences market, potentially generating revenues of $700 million.
- ILC Dover will join Ingersoll Rand’s Precision & Science Technologies segment.
- Image credit: Ingersoll Rand
Ingersoll Rand has announced its acquisition of life sciences company, ILC Dover from New Mountain Capital, LLC for $2.325 billion in cash as reported by Yahoo Finance.
ILC Dover specializes in designing and manufacturing advanced solutions for a variety of industries, including biopharmaceutical, pharmaceutical, aerospace, and medical devices. With over 2,000 employees and 11 engineering and production facilities across North America, Asia, and Europe, ILC Dover brings a robust customer base and diversified expertise to the table.
The acquisition aligns with Ingersoll Rand’s focus on expanding its market presence and enhancing its offerings. By integrating ILC Dover’s single-use solutions into its portfolio, Ingersoll Rand aims to strengthen its capabilities in liquid handling technologies and positive displacement pumps. This strategic move is expected to establish a significant foothold in the life sciences market, potentially generating revenues of $700 million.
Under the leadership of Corey Walker, President, and CEO of ILC Dover, the company will join Ingersoll Rand’s Precision & Science Technologies segment. This acquisition provides Ingersoll Rand access to approximately 1,000 new customers across the broader life science and healthcare sectors.
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