Diversified industrial company Ingersoll-Rand plc (IR) announced it has completed the acquisition of the assets of the centrifugal compression division of Cameron International Corp. (CAM), a provider of flow equipment products. The deal was completed on January 1, 2015, for $850 million.
The acquisition strengthens Ingersoll Rand's compressed air systems and services business, which now provides a comprehensive range of centrifugal, reciprocating and rotary air compressor products, systems and services for a wide variety of industrial, manufacturing, air separation, and process gas applications.
The division provides centrifugal compression equipment and aftermarket parts and services for global industrial, air separation, gas transmission and process gas applications. It generated sales of about $400 million in 2013. Ingersoll Rand will now carry the Turbo-Air and MSG brands into the Ingersoll Rand family of brands.
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