Ingersoll Rand acquiring Howden Roots

By Jack Burke19 June 2023

US$300 million cash deal

Ingersoll Rand has entered into a definitive agreement to acquire Howden Roots from Chart Industries for an all-cash purchase price of approximately US$300 million.

Roots is a leading provider of low-pressure compression and vacuum technologies. The business goes to market under the widely recognized Roots brand, which was founded in 1854. Roots has approximately US$115 million in revenue and an established installed base that supports a strong aftermarket business model.

Ingersoll Rand said it will acquire Howden Roots, a maker of blowers and centrifugal compressors, from Chart Industries. (Image: Howden Roots)

“We have long admired Roots and are thrilled to add this iconic brand to our portfolio,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “This complementary acquisition expands our low-pressure compression and vacuum product offerings and adds centrifugal compression capabilities.”

“Ingersoll Rand is an excellent home for Roots,” stated Jill Evanko, chief executive officer and president of Chart Industries. “Ingersoll Rand’s multi-channel, multi-brand strategy ensures continuation of the Roots brand and their ownership mindset and model will benefit the Roots employees.”

This acquisition is expected to close in the third quarter 2023 upon obtaining required regulatory approvals. Upon close, Roots will join Ingersoll Rand’s IT&S segment.

Delivered directly to your inbox, CompressorTech² News features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
Proposed FSRU, power plant denied by Ireland’s top planning board
Development would be ‘contrary’ to greenhouse gas reduction goals, board said
Siemens Energy supplying French hydrogen project
Company supplying 12 electrolyzers with a total capacity of 200 MW
MHI, SBM Offshore partner on carbon capture
Companies developing technology for FPSOs