Ingersoll Rand has acquired Friulair S.r.l. in an all-cash upfront purchase price of approximately US$146 million.
Based in Italy, Friulair is recognized globally for its design and production of dryers, filters, aftercoolers, and accessories for the treatment of compressed air as well as its chiller product line.
The addition of Friulair will increase the scale of Ingersoll Rand’s air dryer business, significantly increasing the company’s access to the original equipment manufacturer channel and will add new chiller production capabilities. It also adds manufacturing locations in Cervignano del Friuli, Italy and Si Racha Chon Buri, Thailand.
Ingersoll Rand chair & CEO, Vicente Reynal, said acquiring Friulair will accelerate growth across food and beverage and pharmaceutical end markets, in addition to scaling its existing air treatment business.
“I am excited to welcome the Friulair team into the Ingersoll Rand family,” he said.
Friulair will join Ingersoll Rand’s Industrial Technologies and Services (IT&S) segment.