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DAVIDSON, N.C.--(BUSINESS WIRE)--Ingersoll Rand Inc. (NYSE:IR), a global provider of mission-critical flow creation and industrial solutions, has entered into an agreement to acquire ILC Dover (“ILC”) from New Mountain Capital, LLC, a leading growth-oriented investment firm with approximately $50 billion in assets under management.
美国北卡罗来纳州戴维森(商业新闻短讯)--英格索兰公司(纽约证券交易所代码:IR)是一家全球关键业务流程创建和工业解决方案提供商,已签署协议,从New Mountain Capital,LLC收购ILC Dover(“ILC”),New Mountain Capital,LLC是一家领先的增长型投资公司,管理着约500亿美元的资产。
The deal includes an upfront cash purchase price of approximately $2.325 billion and an earnout tied to the achievement of select operating efficiency metrics in 2024. At its maximum payout, the earnout increases the 17x upfront purchase multiple by less than one turn..
该交易包括约23.25亿美元的预付现金购买价格,以及与2024年实现部分运营效率指标相关的收益。在其最大支付额下,盈利将17倍的前期购买倍数增加不到一圈。。
ILC is a world-leader in the design and production of highly innovative solutions for biopharmaceutical, pharmaceutical, and medical device markets as well as a leading supplier for the space industry. ILC has a 75-year heritage of innovation and commitment to expanding its product portfolio of mission-critical applications.
ILC是为生物制药、制药和医疗器械市场设计和生产高度创新解决方案的世界领导者,也是航天行业的领先供应商。ILC拥有75年的创新传统,并致力于扩大其关键任务应用程序的产品组合。
ILC serves its global customer base across 11 engineering and production facilities located in North America, Europe, and Asia, with more than 2,000 team members..
ILC在北美、欧洲和亚洲的11个工程和生产设施中为其全球客户群提供服务,拥有2000多名团队成员。
In connection with this acquisition, Ingersoll Rand will establish a life sciences platform within its P&ST segment, consisting of ILC plus Ingersoll Rand’s life science-focused brands including Thomas, Welch, Zinsser Analytic, Tricontinent, Air Dimensions, and ILS. Corey Walker, ILC President and CEO, will lead the life sciences platform and join the Ingersoll Rand leadership team, reporting to Vicente Reynal, chairman and chief executive officer.
在此次收购中,英格索兰将在其宝洁部门建立一个生命科学平台,由ILC和英格索兰的生命科学重点品牌组成,包括托马斯(Thomas)、韦尔奇(Welch)、津瑟分析(Zinsser Analytical)、Tricontinent、Air Dimensions和ILS。ILC总裁兼首席执行官科里·沃克(CoreyWalker)将领导生命科学平台,加入英格索兰领导团队,向董事长兼首席执行官维森特·雷纳尔(VicenteReynal)汇报工作。
This platform will have approximately $700 million in revenue and will enable Ingersoll Rand to further focus its growth and investment in life sciences, a key strategic area for the company. Current P&ST segment leader Santiago Arias Duval will continue to report to Reynal and lead a second platform within P&ST consisting of the remaining P&ST businesses, which represent approximately $1 billion in revenue..
该平台将产生约7亿美元的收入,并将使英格索兰能够进一步专注于生命科学的增长和投资,这是公司的关键战略领域。现任宝洁部门负责人圣地亚哥·阿里亚斯·杜瓦尔(Santiago Arias Duval)将继续向雷诺报告,并领导宝洁内部的第二个平台,该平台由宝洁剩余的业务组成,收入约为10亿美元。
“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 Rand chairman and CEO.
英格索兰董事长兼首席执行官维森特·雷纳尔(VicenteReynal)表示:“此次收购是我们拓展生命科学等高端增长终端市场的长期愿景的下一阶段。我非常高兴与科里(Corey)和ILC的杰出团队合作,我们对他们的创新产品和数十年的生命科学经验表示钦佩,以增强我们在关键工作流程和应用程序中的影响力。
“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 Rand product lines like compressors.
“我们看到了许多利用ILC既定市场地位和品牌的机会,包括将英格索兰现有的液体处理技术和容积泵与ILC在关键生物制药和制药生产过程中的一次性解决方案相结合的能力。通过ILC,我们将在更广泛的生命科学和医疗保健领域获得约1000家客户,在那里我们可以利用我们的需求产生能力来推动英格索兰其他产品线(如压缩机)的增量增长。
Working together, we will continue to drive sustained growth, lead customer value and innovation, and maximize value creation.”.
通过合作,我们将继续推动持续增长,引领客户价值和创新,最大限度地创造价值。”。
“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 Rand 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总裁兼首席执行官科里·沃克(CoreyWalker)表示:“在快速增长的时期,我为我们的团队对创新的热情、对世界一流质量的承诺以及对客户的全面奉献感到骄傲。”。“我很高兴能将英格索兰和ILC生命科学产品组合结合起来,使我们能够为客户提供从实验室发现阶段到救生疗法商业生产的服务。
ILC Dover’s direct channel access coupled with Ingersoll Rand’s proven growth and efficiency tools will allow us to accelerate our ability to serve customers across their workflows.”.
ILC多佛的直接渠道访问,再加上英格索兰经验证的增长和效率工具,将使我们能够加快在客户工作流程中为客户提供服务的能力。
“Since we acquired ILC in early 2020, we have made substantial investments to support and drive growth. ILC significantly increased its manufacturing capabilities and cleanroom capacity while also driving meaningful operational initiatives to better serve its customers,” said Andre Moura, managing director at New Mountain Capital.
New Mountain Capital董事总经理安德烈·莫拉(Andre Moura)表示:“自2020年初收购ILC以来,我们进行了大量投资,以支持和推动增长。ILC大幅提高了其制造能力和洁净室能力,同时也推动了有意义的运营举措,以更好地为客户服务。
“We would like to thank Corey Walker and his management team for the successful partnership. Under Corey’s leadership, the business materially expanded its product set, including its portfolio of flexible, single-use solutions for sterile and aseptic manufacturing processes. We see a strong fit between Ingersoll Rand and ILC, and we are confident that Ingersoll Rand is the right partner for its next stage of growth.”.
“我们要感谢科里·沃克和他的管理团队的成功合作。在科里的领导下,该公司大大扩展了其产品系列,包括针对无菌和无菌制造过程的灵活、一次性解决方案组合。我们看到英格索兰和ILC之间有很强的契合度,我们相信英格索兰是其下一阶段发展的正确合作伙伴。
This acquisition is immediately accretive to Ingersoll Rand’s growth and margin rates. ILC’s revenue has grown at a mid-teens CAGR organically over the last three years and is expected to reach almost $400 million in revenue in 2024E, with mid-30s Adjusted EBITDA margins. Through the deployment of Ingersoll Rand Execution Excellence (IRX) and organic growth enablers like Demand Generation Excellence (DGX), Ingersoll Rand expects to achieve a ROIC in the high single digits by year three of its ownership.
此次收购立即促进了英格索兰的增长和利润率。在过去的三年中,ILC的收入以十几岁左右的复合年增长率有机增长,预计2024E年收入将达到近4亿美元,30年代中期调整后的息税折旧摊销前利润率。通过部署英格索兰卓越执行(IRX)和需求产生卓越(DGX)等有机增长促进因素,英格索兰预计在其所有权的第三年实现高个位数的ROIC。
This acquisition is subject to customary regulatory approvals and is expected to close in Q2 2024..
此次收购须经监管部门批准,预计将于2024年第二季度完成。
Ingersoll Rand will host a live investor conference call to discuss this announcement on Monday, March 25, 2024, at 10:00 a.m. Eastern Daylight Time. To participate in the call, please dial (800) 715-9871, domestically, or +1 (646) 307-1963, internationally, and use access code 4101345.
英格索兰将于2024年3月25日(星期一)东部夏令时上午10:00召开投资者电话会议,讨论这一公告。要参加呼叫,请在国内拨打(800)715-9871,或在国际上拨打+1(646)307-1963,并使用访问代码4101345。
A real-time audio webcast can be accessed via the Events and Presentations section of the Ingersoll Rand Investor Relations website, in addition to a replay shortly after completion. Conference call slides will be posted in advance of the call.
除了完成后不久的重播外,还可以通过英格索兰投资者关系网站的活动和演示部分访问实时音频网络广播。电话会议幻灯片将在通话前发布。
Kirkland & Ellis LLP is serving as legal counsel to Ingersoll Rand. Jefferies LLC and Goldman Sachs & Co. LLC are serving as financial advisors and Simpson Thacher & Bartlett LLP is serving as legal counsel to ILC Dover and New Mountain Capital.
Kirkland&Ellis LLP担任英格索兰的法律顾问。Jefferies LLC和Goldman Sachs&Co.LLC担任财务顾问,Simpson Thacher&Bartlett LLP担任ILC Dover和New Mountain Capital的法律顾问。
About Ingersoll Rand Inc.
关于英格索兰公司。
Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making Life Better for our employees, customers, shareholders, and planet. Customers lean on us for exceptional performance and durability in mission-critical flow creation and industrial solutions.
英格索兰公司(纽约证券交易所代码:IR)以创业精神和所有权心态为驱动,致力于为我们的员工、客户、股东和地球创造更好的生活。客户依靠我们在关键业务流程创建和工业解决方案方面的卓越性能和耐用性。
Supported by over 80+ respected brands, our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity, and efficiency. For more information, visit www.IRCO.com..
在80多个受人尊敬的品牌的支持下,我们的产品和服务在最复杂和恶劣的条件下表现出色。我们的员工通过他们对专业知识、生产力和效率的日常承诺,终身发展客户。有关更多信息,请访问www.IRCO.com。
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with approximately $50 billion in assets under management.
New Mountain Capital是一家总部位于纽约的投资公司,它强调业务建设和增长,而不是债务,因为它追求长期资本增值。该公司目前管理私募股权、信贷和净租赁投资策略,管理资产约500亿美元。