M&A Deal Summary

IR Acquires SPX FLOW - Air Treatment Business

On October 6, 2022, IR acquired electrical equipment company SPX FLOW - Air Treatment Business from SPX FLOW for 525M USD

Acquisition Highlights
  • This is IR’s 1st transaction in the Electrical Equipment sector.
  • This is IR’s 4th largest (disclosed) transaction.
  • This is IR’s 23rd transaction in the United States.
  • This is IR’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2022-10-06
Target SPX FLOW - Air Treatment Business
Sector Electrical Equipment
Buyer(s) IR
Sellers(s) SPX FLOW
Deal Type Divestiture
Deal Value 525M USD

Target

SPX FLOW - Air Treatment Business

Charlotte, North Carolina, United States
SPX FLOW's Air Treatment Business provides manufacturer of reliable and energy efficient desiccant and refrigerated dryers, filtration systems and purifiers for dehydration in compressed air.

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Buyer(S) 1

Buyer

IR

Davidson, North Carolina, United States

website


Category Company
Founded 1859
Sector Machinery
Employees17,000
Revenue 5.9B USD (2022)
DESCRIPTION

IR is a manufacturer of highly engineered products, including compressors, liquid ring pumps and blowers for various industrial, medical, environmental, transportation and process applications, pumps used in the petroleum and industrial market segments and other fluid transfer equipment, such as loading arms and dry break couplers, serving chemical, petroleum and food industries. IR was founded in 1859 and is based in Davidson, Wisconsin.


DEAL STATS #
Overall 41 of 45
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 4 of 5
State (North Carolina) 1 of 1
Country (United States) 23 of 26
Year (2022) 8 of 8
Size (of disclosed) 4 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-03 Dosatron

Tresses, France

Dosatron is a technology solutions provider of water-powered dosing pumps and systems with an established presence in attractive end markets including hydroponics, horticulture, animal health, food safety and sanitation, and water treatment. Dosatron was founded in 1974 and is based in Tresses, France.

Buy $90M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-12 Roots

Connersville, Indiana, United States

Roots is a provider of rotary positive displacement blowers for wastewater treatment plants and other industrial applications. It also produces robust, heavy-duty bi-lobe and tri-lobe designs that deliver reliable performance with innovative Whispair technology for low noise, and low pulsation compression. Roots was formed in 1854 and is based in Connersville, Indiana.

Buy $300M

Seller(S) 1

SELLER

SPX FLOW

Charlotte, North Carolina, United States

website


Category Company
Founded 2015
Sector Manufacturing
Revenue 1.4B USD (2020)
DESCRIPTION

SPX FLOW solves processing challenges, helping customers lower costs, increase uptime, save energy, reduce waste, and improve quality. The company's product offering is concentrated in process technologies that perform mixing, blending, fluid handling, separation, thermal heat transfer, and other activities that are integral to processes performed across a wide variety of nutrition, health, and precision solutions markets. SPX FLOW was founded in 2015 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 2 of 2
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 2 of 2
State (North Carolina) 2 of 2
Country (United States) 2 of 2
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-28 Philadelphia Mixing Solutions

Palmyra, Pennsylvania, United States

Philadelphia Mixing Solutions is a provider in the designing and manufacturing of agitation and aeration equipment. The company operates the most comprehensive technical laboratories dedicated to agitation and aeration process optimization. Its offerings include chemical processing, biological and industrial wastewater treatment, tank storage, mineral processing, food, water treatment, and other fluid mixing applications. Philadelphia Mixing Solutions was formed in 1957 and is based in Palmyra, Pennsylvania.

Buy $65M