Ingersoll Rand Agrees To Acquire ILC Dover From New Mountain Capital, LLC, For ~$2.325B

Benzinga · 03/25 11:07
  • Attractive upfront purchase multiple of approximately 17x 2024E Adjusted EBITDA, supported by Adjusted EBITDA margins in the mid-30s and a three-year historical organic revenue CAGR in the mid-teens, which are both immediately accretive to the Precision and Science Technologies (P&ST) segment.
  • Adds new technologies for life science applications including innovative powder and liquid single-use solutions for biopharma and pharma, and niche solutions for the design and production of silicone, thermoplastic, and specialty rubber components for medical devices, with approximately 75% of revenue from consumable, like-for-like replacement or recurring revenue streams.
  • Expands Ingersoll Rand's addressable market by more than $10 billion, to a total of approximately $65 billion, in highly fragmented market segments with significant and sustainable growth tailwinds.
  • Increases access for existing Ingersoll Rand life science solutions through established direct channel and strong customer connectivity in biopharma, pharma, cell and gene therapy, and related life science end markets, supported by iconic, premium life sciences brands.