Ingersoll Rand to acquire Tuthill Pump Group from Tuthill for $85m.

Ingersoll Rand, a global provider of mission-critical flow creation and industrial solutions, agreed to acquire Tuthill Pump Group, the gear and rotary piston pump unit of Tuthill, a privately held global manufacturer of industrial goods, for $85m. "This is the second business we have purchased from Tuthill Corporation and I’m excited to welcome another Tuthill team to the Ingersoll Rand family. With an IRX-driven playbook in place, I’m confident the integration of the Pump Group will be as seamless and successful as the prior transaction, and will help extend our portfolio of mission critical, high margin pumping solutions within PST. This transaction aligns with our M&A focused capital allocation strategy, meets our strategic and financial criteria, and we expect it to deliver meaningful shareholder value through synergy realization, including a mid-single digit Adjusted EBITDA purchase multiple by year three of ownership," Vicente Reynal, Ingersoll Rand President and CEO.