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The acquisitions were made for a combined $26 million, broadening Ingersoll Rand’s portfolio of air compression and technical support capabilities.
Ingersoll Rand has announced the completion of two acquisitions for a total all-cash purchase of $26 million. The company absorbed Oxywise s.r.o. and Fraserwoods Fabrication and Machining Ltd. to expand an existing portfolio of air compression technology and technical support capabilities.
“These acquisitions strengthen our company’s core capabilities and provide opportunities to grow our exposure in high-growth, sustainable end markets,” said Vicente Reynal, Chairman and CEO of Ingersoll Rand. “We are excited to welcome the expertise and quality that Oxywise and Fraserwoods are known for in their respective markets.”
Oxywise is a Slovakia-based company that develops air treatment solutions with onsite oxygen and nitrogen generators, both of which utilize pressure swing adsorption technology, cylinder filling systems, containerized systems, and gas control solutions. Ingersoll Rand will incorporate this gas distribution technology into its air compression equipment.
Fraserwoods specializes in services, repair and return, and remanufacturing of blowers and pumps for larger OEMs in the vacuum truck industry. Ingersoll Rand will bring on the 13 employees from Fraserwoods for technical support, service capabilities, and aftermarket repair specialty in western Canada.
Oxywise and Fraserwoods will be a part of Ingersoll Rand’s Industrial Technologies and Services (IT&S) division. The acquisitions reflect Ingersoll Rand’s plan to allocate capital and receive returns on these investments by year three post-purchase.