Ingersoll Rand To Acquire Howden Roots From Chart Industries For About $300 Mln Cash

(RTTNews) - Ingersoll Rand, Inc. (IR) entered into a definitive agreement to acquire Howden Roots LLC from Chart Industries, Inc. (GTLS) for an all-cash purchase price of approximately $300 million. Roots is a leading provider of low-pressure compression and vacuum technologies.

The acquisition adds long-standing premium brand with complementary low-pressure compression and vacuum technologies. It also enhances Ingersoll Rand's capabilities to serve high growth, sustainable end markets including green steel

This acquisition is expected to close in the third quarter 2023 upon obtaining required regulatory approvals. Upon close, Roots will join Ingersoll Rand's IT&S segment.