Ingersoll Rand

Ingersoll Rand, Inc. (formerly Gardner Denver Inc.), founded in 1859, is an American worldwide provider of industrial equipment, technologies and related parts and services to a broad and diverse customer base through a family of brands. The company has over 30 manufacturing facilities located in the Americas, Europe, the Middle East, and Asia Pacific with offices in 35 different countries. Based in Milwaukee, Wisconsin, USA, it operates in three groups: the Industrials Group, Energy Group, and Medical Group.

This article is about the American company formerly known as Gardner Denver. For the Irish-domiciled company formerly known as Ingersoll Rand plc, see Trane Technologies.
Ingersoll Rand, Inc.
Formerly
Gardner Denver Inc.
Public
Traded asNYSE: IR
S&P 500 component
ISINUS45687V1061
IndustryDiversified Machinery
Founded1859
FounderRobert Gardner
Headquarters
Milwaukee, Wisconsin
,
United States
Area served
Worldwide
Key people
Vicente Reynal (CEO)
ProductsCompressors, vacuum & blowers, liquid ring pumps, petroleum pumps, loading arms, couplers, water jetting, and others
RevenueUS$2.375 billion (2017)[1]
US$108.7 million (2017)[1]
US$18.5 million (2017)[1]
Total assetsUS$1.46 billion (2017)[1]
Total equityUS$4.62 billion (2017)[1]
OwnerKohlberg Kravis Roberts (17.0%)[2]
Number of employees
6,700[3]
DivisionsIndustrial
Energy
Medical
Websitewww.irco.com
Footnotes / references
[1]

Divisions

The Industrials Group designs, manufactures, markets and services a wide range of products including rotary screw, reciprocating and sliding vane compressors, multistage and positive displacement, centrifugal and side-channel blowers, vacuum technology as well as mobile transport products. The end market sectors served by the Industrials Group are primarily industrial manufacturing, transportation, energy, mining and construction, environmental, and food and beverage.

The Energy Group manufactures, markets and services liquid ring pumps and engineered systems for power generation, environmental, petrochemical, pulp and paper and industrial applications; pumps and fluid transfer equipment used primarily in oil and natural gas well drilling, servicing and production, and petrochemical and industrial applications; and water jetting pumps. The Energy Group includes three divisions: Petroleum Pump, Nash, and EMCO Wheaton. The Petroleum Pump Division designs, manufactures, tests and markets a diverse range of pumps for the oil & gas industry. Nash is the leader in liquid ring vacuum pumps. The Emco Wheaton Division designs, manufactures and installs a wide range of solutions for the loading and unloading of almost any liquid and compressed gas products from river barges, ships and oceangoing supertankers. In addition, Emco Wheaton and Todo swivel joints, Dry-Break couplers and adapters, off-highway fueling systems and grounding equipment are all used within bunkering applications; the transfer of oil via hoses, pipelines, or loading arms for the purpose of providing fuel or lubricants to a tank vessel or nontank.

The Medical Group manufactures single-piece piston reciprocating, diaphragm and linear compressor and vacuum pumps, which are used in medical, environmental and laboratory applications.

History
  • 1859 The Gardner Governor Company, founded by Robert Gardner, introduces a speed control for steam engines.[4] This innovation, known as the flyball governor, helped pave the way to later production of other industrial products such as air compressors. By the turn of the century, the company sold more than 150,000 governors across the United States and Canada.
  • 1927 The Gardner Governor Company merges with the Denver Rock Drill Company and becomes Gardner-Denver.
  • 1943 Gardner Denver is listed on the New York Stock Exchange
  • 1950s During the post-war growth period, Gardner-Denver makes a number of acquisitions, including Keller Tool Company and the CycloBlower Company, a manufacturer of helical screw blowers.
  • 1960s Gardner Denver adds the Apex Machine and Tool Company and the Martin Decker Corporation.
  • 1979 The company is acquired by Cooper Industries, Inc. (Cooper).
  • 1985-1988 Cooper purchases Sutorbilt and DuroFlow blowers, OPI well servicing pumps, and Joy compressors.
  • 1994 As Cooper Industries’ strategy changes, the Gardner Denver Industrial Machinery Division is spun off as an independent company. Gardner Denver, Inc. then becomes a publicly held company trading on the New York Stock Exchange.
  • 2004 Drilling Solutions business was sold to the Swedish company Atlas Copco.

Gardner Denver, Inc. continues to acquire complementary companies. Twenty-five companies have been acquired since the spin-off from Cooper Industries, including:

  • 1996 Lamson Corp., Syracuse, New York, USA and Twentieth Century Manufacturing (TCM), Tulsa, Oklahoma, USA
  • 1997 Oy Tamrotor AB, Tampere, Finland and Champion Pneumatic, Princeton, Illinois, USA
  • 1998 Fort Worth, Texas-based Geological Equipment and Wittig, Schopfheim, Germany
  • 1999 US-based Allen-Stuart Equipment Co and Butterworth Jetting Systems, both Houston, Texas, as well as Air Relief, Mayfield, Kentucky
  • 2000 Invincible Airflow Systems, Baltic, Ohio, Jetting Systems & Accessories, Inc. and CRS Power Flow, Inc, both Houston, Texas
  • 2001 Gloucester, UK compressor manufacturer Belliss & Morcom and Syracuse, New York based • Hoffman Air & Filtration System
  • 2003 Chaparral, Odessa, Texas, USA
  • 2004 Syltone / Emco Wheaton, Margate, UK and Kirchhain, Germany as well as Nash Elmo
  • 2005 Bottarini, Lonate, Italy as well as US and Europe based Thomas Rietschle
  • 2006 Todo, Toreboda, Sweden
  • 2008 CompAir, Redditch, UK and Simmern, Germany
  • 2009 Ilmvac, Ilmenau, Germany; Gardner Denver, Inc. marks its sesquicentennial (150 years) as a company
  • 2011 Robuschi, Parma, Italy

In 2013, Gardner Denver goes from a publicly traded to a private company when its outstanding shares are purchased by US multi-national private equity firm Kohlberg Kravis Roberts & Co. L.P.

  • 2014 Acquisition of Texas-based Conroe Plastics Molding, Inc.
  • 2016 - sold Air Relief to Epic
  • 2017 Conducted IPO[5]
  • 2020 The Gardner-Denver Company merges with the industrial businesses of Ingersoll Rand plc (now known as Trane Technologies) and becomes Ingersoll Rand Inc.[6]
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References
  1. "Ingersoll Rand Inc. (IR)". Yahoo! Finance.
  2. 2020 proxy statement
  3. https://www.owler.com/company/gardnerdenver
  4. Standard & Poor's Smallcap 600 Guide. McGraw-Hill. 1999. ISBN 978-0-07-052763-8.
  5. KKR-owned Gardner Denver makes tepid return to stock market
  6. "Gardner Denver and Ingersoll Rand Industrial Segment Finalize Merger to Form a Global Leader in Mission-Critical Flow Creation and Industrial Technologies". finance.yahoo.com. Retrieved 2020-03-03.
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