According to Ingersoll, the deal will add ILC’s technology solutions for life sciences applications including liquid single-use and powder solutions for the biopharma space, solutions for the design and manufacture of thermoplastic and silicone, as well as rubber components for medical devices.
Ingersoll said the acquisition will expand its market by over $10 billion, taking its total to approximately $65 billion.
“This acquisition is the next phase of our long-term vision to expand into higher-growth end markets like life sciences. I am incredibly excited to partner with Corey and the outstanding team at ILC, whom we’ve admired for their innovative products and decades of experience in life sciences, to enhance our presence in key workflows and applications,” said Vicente Reynal, Ingersoll’s chairman and CEO.
“We see many opportunities to leverage ILC’s established market positions and brands, including the ability to attach Ingersoll Rand’s existing liquid handling technologies and positive displacement pumps to ILC’s single-use solutions in key biopharma and pharma production processes. Through ILC, we will get access to approximately 1,000 customers in the broader life science and healthcare sectors, where we can leverage our demand generation capabilities to drive incremental growth in other Ingersoll product lines like compressors.”
In relation to this acquisition, Ingersoll will launch a life sciences platform within its Precision and Science Technologies (P&ST) segment. The segment will consist of ILC’s and Ingersoll’s life science-focused brands including, Tricontinent Scientific, Thomas Welch, Zinsser Analytic, and Air Dimensions.
Ingersoll said its platform will have around $700 million in revenue, which will allow the company to place further focus on its investments and growth in the life sciences sector.
“I am very proud of our team’s passion for innovation, commitment to world-class quality, and overall dedication to our customers during a period of rapid growth,” said Corey Walker, ILC president and CEO.
“I’m excited to combine the Ingersoll and ILC Life Science portfolio of products that allow us to serve our customers from the discovery phase in the laboratory to the commercial production of life saving therapies. ILC’s direct channel access coupled with Ingersoll’s proven growth and efficiency tools will allow us to accelerate our ability to serve customers across their workflows.”
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