- Ingersoll Rand ( NYSE: IR ) to acquire Pedro Gil and acquired Westwood Technical for a combined upfront cash purchase price of ~$30M.
- Pedro Gil is a manufacturer of positive displacement blowers, pumps and vacuum systems in the Spanish market.
- Pedro Gil has annual revenue of ~$15M and will join the Industrial Technologies and Services segment.
- Pedro Gil expands geographic presence in Spanish market with established brand; low double digit Adjusted EBITDA pre-synergy purchase multiple reduced to mid-single digits by year 3.
- Westwood Technical is a control and instrumentation specialist based in the U.K. with IIoT capabilities.
- Westwood Technical enhances IIoT offerings with addition of an innovative Low Power Wide Area Networking technology platform.
- Westwood Technical will join Ingersoll Rand's Precision and Science Technologies segment.
- The deal of Westwood Technical closed on September 1.
- The deal of Pedro Gil is expected to be completed during Q4.
For further details see:
Ingersoll-Rand to acquire Pedro Gil, closes Westwood Technical acquisition