Ingersoll Rand acquires two Termomeccanica companies

US-based Ingersoll Rand, a global manufacturer and distributor of compressed air solutions, has acquired Termomeccanica industrial compressors (Tmic) and its subsidiary Adicomp, two companies hitherto owned by Enso Paci's Termomeccanica group of La Spezia, for a price of around EUR 160 million.

Tmic specialises internationally in the design and manufacture of air and gas compressors, boasting over 100 years of experience. Its subsidiary Adicomp provides custom-engineered solutions in the renewable natural gas sector. Tmic and Adicomp are based in La Spezia, Italy, have an established presence in North America and have recently expanded into Brazil and India. Their businesses will become part of Ingersoll's Industrial Technologies and Services segment.

"Tmic and Adicomp are leading companies in their respective fields," explained Vicente Reynal, president and CEO of Ingersoll, "and today we welcome them. These companies strengthen our core competencies and broaden our service offering, enabling us to deliver more value to our customers while furthering our long-term growth strategy for shareholders.

Clearwater assisted Ingersoll Rand, acting as financial advisor and coordinating the entire acquisition process, from target identification to closing, with a team comprising managing partner Alexandre Perrucci, associate Stefano Goldberg and analyst Edoardo Grossi. The US company was also assisted by Pwc for technical due diligence.

"With this transaction," says Perrucci, "Ingersoll Rand further strengthens its core business and expands its service offering, with a view to long-term growth in partnership with the acquired companies, which can count on the solidity of a large international group.