DAVIDSON, NC — Gardner Denver Holdings completed its previously-announced merger with the Ingersoll Rand Industrial segment at the end of the day on Saturday, Feb. 29. The newly-combined company, named Ingersoll Rand Inc., began trading Monday, March 2, on the New York Stock Exchange under the symbol “IR”.
“Today’s milestone transforms our potential to generate extraordinary long-term value for our employees, customers, shareholders and communities,” said Vicente Reynal, CEO of Ingersoll Rand. “Fueled by our employees’ ownership mindset, we operate from a customer-centric culture, as we know they lean on us to help make life better. We are enthusiastic that now, as a stronger company, we can deliver more comprehensive solutions and services across the globe.”
The merger of Gardner Denver and Ingersoll Rand Industrial positions the new Ingersoll Rand as a global leader in mission-critical flow creation and industrial technologies. With more than 16,000 employees globally, the combined company produces mission-critical flow creation systems, including air compressors, pumps, blowers, the well-known Club Car brand of electric vehicles and systems for fluid management, loading and material handling.
Ingersoll Rand Financial Reporting Segments
Effective immediately, Ingersoll Rand will operate as four reportable segments:
1. Industrial Technologies and Services The Industrial Technologies and Services segment will include a combination of the Ingersoll Rand Industrial Compression Technologies and Services (CTS) business and the Gardner Denver Industrials business, which will be managed through three regional business units, Americas, Asia Pacific and Europe, Middle East, India and Africa (EMEIA). Industrial Technologies and Services EMEIA will also include Gardner Denver’s EMCO Wheaton Fuel Systems and Runtech businesses.
In addition, the Industrial Technologies and Services segment will include:
- A new Pressure and Vacuum Solutions business unit that includes brands and offerings with a significant Engineered-to-Order (ETO) focus, including Nash, Garo, Ingersoll Rand Industrial Multi-stage Gear (MSG) Centrifugal Compressors, Gardner Denver Custom Engineered Products (CEP) and EMCO Wheaton Loading Systems.
- The Power Tools and Lifting business unit.
2. Precision and Science Technologies This segment will include Ingersoll Rand’s Industrial Precision Flow Systems (PFS) business unit as well as Gardner Denver’s Medical business unit and Gardner Denver’s Specialty Pumps.
3. High Pressure Solutions High Pressure Solutions will include Gardner Denver’s Petroleum and Industrial Pump business.
4. Specialty Vehicle Technologies This segment will consist of Ingersoll Rand’s Industrial Club Car business.
Ingersoll Rand has also appointed its three newest board members, Kirk E. Arnold, Gary D. Forsee and Tony L. White, who will commence their board service effective immediately. They are joining pre-merger Gardner Denver board members Chairperson Peter M. Stavros, Elizabeth Centoni, William P. Donnelly, John Humphrey, Marc E. Jones, Vicente Reynal and Joshua T. Weisenbeck to form the new Ingersoll Rand board.
Arnold brings leadership in critical areas such as entrepreneurship, employee engagement an