Ingersoll-Rand completes Thermocold Costruzioni acquisition
Ingersoll-Rand plc has completed its acquisition of Thermocold Costruzioni S.r.l. The transaction closed on April 1, 2017.
Officials said the acquisition will strengthen the company’s portfolio of energy efficient, climate-friendly HVAC products for buildings in Europe with opportunities to extend Thermocold technologies to other parts of the world. Thermocold operates from one location in Bari, Italy, and has a wide European distribution network.
“The completion of this acquisition marks another milestone in providing breakthrough solutions for building owners to achieve operating and sustainability goals,” said Dave Regnery, president of the commercial HVAC North America, Europe, Middle East, and Africa strategic business unit (SBU) of Ingersoll Rand. “We have been jointly innovating and serving customers, and this is the next step in our relationship. This is an exciting day for employees and distribution partners. We look forward to the growth potential we have together.”
The company did not disclose the cost of the acquisition and indicated the transaction would not have a material impact on the company’s cash flow or earnings in 2017.