(RTTNews) - Diversified industrial manufacturing company Ingersoll Rand Inc. (IR) Monday said it will acquire the assets of Tuthill Vacuum and Blower Systems for $184 million in cash, to further strengthen its IT&S segment. The deal is expected to close in the first quarter, subject to required regulatory approvals and necessary third-party consents.
Upon completion of the deal, the employees and brands of the acquired business will join the Ingersoll Rand Industrial Technologies and Services (IT&S) segment.
The acquisition of Tuthill Vacuum and Blower Systems, which has about 160 employees and annual revenue of about $60 million, will expand Ingersoll Rand's vacuum offering and application expertise and global blower channel coverage.
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