Ingersoll Rand Announces Acquisition of ICS Group Holdings Limited, a Leading European Temperature Control & HVAC Solutions P...
January 22 2018 - 6:30AM
Business Wire
Ingersoll-Rand plc (NYSE:IR), a world leader in creating
comfortable, sustainable and efficient environments, today
announced the acquisition of United Kingdom-based ICS Group
Holdings Limited (ICS Cool Energy). ICS Cool Energy will be part of
the company’s Commercial Heating, Ventilation and Air Conditioning
(HVAC) business.
ICS Cool Energy is a privately owned temperature control and
HVAC solutions and services company that specializes in temporary
rental of energy efficient chillers for commercial and industrial
buildings across Europe. It also sells, permanently installs and
services high performance temperature control systems for all types
of industrial processes.
“ICS Cool Energy is a leader in the high margin rental services
business with a reputation for strong customer service, helping
building owners enhance productivity and reduce environmental
impact,” said Dave Regnery, executive vice president of Ingersoll
Rand. “This acquisition is a strong fit with our Trane business,
and strengthens our growth plans and ability to serve a broader
range of customers in the important European market.”
“We are excited to be part of Ingersoll Rand because of its
market leadership, strong values and commitment to customers,” said
Simon West, Group CEO for ICS Cool Energy. “Our track record of
customer service, our footprint and our capabilities in temporary
rental services are complementary to the Trane business. Together,
we will create even greater value for European customers.”
The company is headquartered in Southampton, England and has an
extensive footprint in the United Kingdom, France, Germany, the
Netherlands and Switzerland.
The financial terms of the deal were not disclosed and are not
material.
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 $14 billion global business
committed to a world of sustainable progress and enduring results.
For more information, visit ingersollrand.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180122005197/en/
Ingersoll-Rand plcMedia:Perri Richman,
732-319-1024prichman@irco.comorAnalysts:Zachary Nagle,
704-655-5319zachary.nagle@irco.com
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