Ingersoll-Rand has entered into an agreement to acquire the assets of Cameron’s Centrifugal Compression division for $850 million with the acquisition being expected to close before the end of the year.
The division provides centrifugal compression equipment and aftermarket parts and services for global industrial applications, air separation, gas transmission and process gas.
Cameron’s Centrifugal Compression division generated sales of approximately $400 million in 2013, has approximately 850 employees and operates from 12 global locations.
The acquisition will strengthen Ingersoll Rand’s Compressed Air Systems and Services business, which provides a wide range of centrifugal, reciprocating and rotary air compressor products used in a variety of industrial and manufacturing applications. Cameron’s Centrifugal Compression division will also expand Ingersoll Rand’s compression offerings into areas such as air separation, petrochemical, chemical, and process gas.
Press Release, August 18, 2014; Image: Cameron