Ingersoll Rand To Buy Holtec, Hanye, Hydro Prokav In 3 Deals For Combined $35 Mln In Cash

Ingersoll Rand Inc. (IR), a provider of mission-critical flow creation and industrial solutions, Monday announced agreements for three acquisitions for a combined cash purchase price of around $35 million.

The company is buying Missouri -based Holtec Gas Systems LLC, China-based Shanghai Hanye Air Purifying Technology Co., Ltd, and India-based Hydro Prokav Pumps (India) Private Limited.

The acquisitions of Holtec and Hydro Prokav are expected to be completed during the third quarter of 2022. The acquisition of Hanye is expected to be completed during the fourth quarter of 2022.

The proposed acquisition of Holtec, a nitrogen generator manufacturer, and Hanye, an OEM supplier of air treatment products, is expected to expand Ingersoll Rand's air treatment capabilities. They will both join the Industrial Technologies and Services segment.

Holtec has annual revenue of approximately $10 million, and Hanye has annual revenue of approximately $4 million.

Further, Hydro Prokav, an Indian manufacturer of progressive cavity pumps, would expands Ingersoll Rand's presence in progressive cavity pumps and serves as a complementary addition to the recent Seepex acquisition. Hydro Prokav, which generates $6 million in annual revenue, will join the Precision and Science Technologies segment.

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