- Strong strategic fit with Transport Solutions business
- Broadens portfolio of transport refrigeration products and services
in Europe; strengthens key research and design capabilities
- Provides access to attractive hybrid and non-diesel (electric)
technologies
SWORDS, Ireland -- (Business Wire)
Ingersoll-Rand plc (NYSE:IR), a world leader in creating comfortable,
sustainable and efficient environments, announced today it has completed
the acquisition of FRIGOBLOCK. The transaction was closed on March 4,
2015 for €100 million.
FRIGOBLOCK manufactures and designs transport refrigeration units for
trucks and trailers in Europe, primarily sold in Northern Europe.
FRIGOBLOCK operates in Essen, Germany and is home to about 150 employees.FRIGOBLOCK’s annual revenue is approximately €41 million.
Ingersoll Rand welcomes the FRIGOBLOCK brand into the Ingersoll Rand
family of brands. FRIGOBLOCK is now part of the Transport Solutions
business, which goes to market as Thermo King. The acquisition
strengthens Ingersoll Rand’s ability to deliver transport temperature
control systems for a variety of mobile applications.
“Our goal for this acquisition is to provide customers with a complete
portfolio of solutions that are reliable, safe, efficient and
environmentally responsible to meet their transport temperature control
needs – including access to new hybrid and non-diesel options,” said Ray
Pittard, president, Transport Solutions, Ingersoll Rand. “FRIGOBLOCK is
a unique and pioneering company that will allow us to expand our
offerings immediately in Europe. In the future we will provide customers
around the world with this technology through our extensive global
dealer network.”
About FRIGOBLOCK
FRIGOBLOCK was founded in 1978, and quickly developed to a strong
manufacturer of transport refrigeration units in Germany. The name
FRIGOBLOCK became the brand name for unsurpassed powerful,
environmentally friendly and cost-saving transport refrigeration units.
The company has a workforce of about 150 at the headquarters in Essen,
Germany. Today, over 40,000 FRIGOBLOCK transport refrigeration units
give reliable service on roads throughout Europe. For more information,
visit www.frigoblock.com.
About Ingersoll Rand
Ingersoll Rand (NYSE:IR) advances the quality of life by creating
comfortable, sustainable and efficient environments. Our people and our
family of brands— including Club
Car®, Ingersoll
Rand®, Thermo
King® and Trane®
—work together to enhance the quality and comfort of air in homes and
buildings; transport and protect food and perishables; and increase
industrial productivity and efficiency. We are a global business
committed to a world of sustainable progress and enduring results. For
more information, visit www.ingersollrand.com.
Contacts:
Ingersoll-Rand plc
Media:
Misty Zelent, 704-655-5324
mzelent@irco.com
or
Analysts:
Joe
Fimbianti, 704-655-4721
joseph_fimbianti@irco.com
or
Janet
Pfeffer, 704-655-5319
janet_pfeffer@irco.com
Source: Ingersoll-Rand plc
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