M&A Deal Summary

IR Acquires Roots

On June 12, 2023, IR acquired machinery company Roots from Howden for 300M USD

Acquisition Highlights
  • This is IR’s 15th transaction in the Machinery sector.
  • This is IR’s 7th largest (disclosed) transaction.
  • This is IR’s 24th transaction in the United States.
  • This is IR’s 1st transaction in Indiana.

M&A Deal Summary
Date 2023-06-12
Target Roots
Sector Machinery
Buyer(s) IR
Sellers(s) Howden
Deal Type Divestiture
Deal Value 300M USD

Target

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.

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Buyer(S) 1

Buyer

IR

Davidson, North Carolina, United States
Category Company
Founded 1859
Sector Machinery
Employees18,000
Revenue 6.8B USD (2023)
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 42 of 48
Sector (Machinery) 15 of 17
Type (Divestiture) 5 of 5
State (Indiana) 1 of 1
Country (United States) 24 of 27
Year (2023) 1 of 1
Size (of disclosed) 7 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-06 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.

Buy $525M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-25 ILC Dover

Frederica, Delaware, United States

ILC Dover provides high-performance flexible materials for complex government and commercial applications, including bio-pharmaceutical and personal hazmat protection, infrastructure protection, inflatable applications, lighter-than-air airships, and pressurized spacesuits. ILC Dover has manufacturing locations in Delaware, Texas, and Switzerland.

Buy $2.3B

Seller(S) 1

SELLER

Howden

Renfrew, United Kingdom
Category Company
Founded 1854
Sector Machinery
DESCRIPTION

Howden is a provider of mission-critical air and gas handling products, technologies, and services. Howden supports multiple sectors including infrastructure, power generation, oil & gas, wastewater, metals, mining, and transportation. Howden was founded in 1854 and is based in Renfrew, Scotland.

DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Divestiture) 1 of 1
State (Indiana) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-12 CPI

Stafford, Texas, United States

CPI is a manufacturer of precision-engineered, custom aftermarket products and its broad product offering is critical to the longevity, efficiency and safety of reciprocating compressors. CPI was founded in 2004 and is based in Stafford, Texas.

Buy -
Mergr

Product

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