Ingersoll Rand Inc., a global provider of mission-critical flow creation and industrial solutions, has entered into a definitive agreement to acquire Howden Roots LLC (Roots) from Chart Industries Inc. for an all-cash purchase price of approximately US$300 million.
Founded in 1854, Roots is known for its positive displacement blowers, rotary lobe blowers, and centrifugal compressors. Upon closing, Roots will join Ingersoll Rand’s Industrial Technologies & Services segment, which encompasses a broad range of Ingersoll Rand compressor, vacuum, and blower brands such as Gardner Denver, Compair, LeRoi, Champion, and others.
“We have long admired Roots and are thrilled to add this iconic brand to our portfolio. This complementary acquisition expands our low-pressure compression and vacuum product offerings and adds centrifugal compression capabilities,” said Vicente Reynal, chair and chief executive officer of Ingersoll Rand. “Additionally, Roots’ focus on enabling critical applications to advance a more sustainable world aligns with Ingersoll Rand’s commitment to Make Life Better. I am especially excited about Roots’ differentiated expertise in green steel and the opportunities that creates for other parts of our business.”
