Gardner Denver completed the merger with Ingersoll Rand's industrial segment in a $15bn deal.

Gardner Denver, an American worldwide provider of industrial equipment, technologies and related parts and services, completed the merger with Ingersoll Rand's industrial segment in a $15bn deal. Upon the close of the transaction, existing Ingersoll Rand shareholders received 50.1% of the shares of the newly formed company on a fully diluted basis, valued at c. $5.8bn. Existing Gardner Denver shareholders retained 49.9% of the shares on a fully diluted basis. “Ingersoll Rand has a long track record of top-tier financial performance. This transaction presents a compelling opportunity to unlock significant value for all of our stakeholders through the formation of two global leaders in their respective sectors. In addition to owning one hundred percent of the ClimateCo, our shareholders will also benefit from majority ownership of IndustrialCo and the significant synergies expected to be unlocked as a result of the combination,” Mike Lamach, Ingersoll Rand’s Chairman and CEO.