NEWS

The global provider of key business process building and industrial solutions—Ingersoll Rand Inc. reached an agreement with German progressive cavity pump manufacturer Seepex GmbH on June 21 for the acquisition of the latter in an all-cash deal worth €431.5 million (or $514 million) that is expected to close in the third quarter after receiving regulatory approval.

This deal will help Ingersoll-Rand to accelerate the pace of its growth plans, resulting in increased digital capabilities, aftermarket growth, technology complementation, and innovation. Seepex GmbH has an excellent growth history, with organic growth rates in the high single digits since 2017 and double-digit growth projected for 2021, thanks to a solid installed base of over 210,000 pumps and a recurring aftermarket business that already exceeds 40% of its total annual revenue.

As a world leading manufacturer of progressive cavity pump, which is a part of the volumetric pump family, Seepex GmbH mainly serves the water, wastewater, food and beverage, and chemical end markets. Headquartered in Bottrop, Germany, Seepex GmbH also has plants in North America and Asia Pacific, employs around 800 people, and has annual revenues of around €160 million. Upon completion of the deal, Seepex GmbH business will join Ingersoll-Rand's Precision and Science Technology (PST) division.