Ingersoll Rand to Acquire ILC Dover from New Mountain Capital

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. 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. 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.

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Source: https://www.businesswire.com/news/home/20240324336524/en/Ingersoll-Rand-to-Acquire-ILC-Dover-to-Expand-Presence-in-Life-Sciences

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