industry update

Ingersoll Rand announces three bolt-on acquisitions

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Ingersoll Rand has acquired Air Power Systems Co . ( APSCO ), Blutek s . r . l . and UT Pumps & Systems Private Limited for approximately USD 135 million . The acquisitions will add over USD 50 million in cumulative revenue , purchased at a high single-digit multiple of 2024 estimated adjusted EBITDA . Oklahoma-based APSCO , joining the Industrial Technologies and Services ( IT & S ) segment , provides hydraulic and pneumatic solutions for specialty work truck vehicles . Italy ’ s Blutek , also joining IT & S , specialises in compressed air and nitrogen generation for mission-critical environments , enhancing Ingersoll Rand ’ s capabilities in high-specification projects . UT Pumps , an Indian manufacturer of screw and triplex plunger pumps , will join the Precision and Science Technologies segment . This acquisition expands Ingersoll Rand ’ s pump technology portfolio , focusing on markets including water , wastewater , food and beverage , pharmaceuticals and chemicals .

Emerson opens new manufacturing hub in Dammam

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Emerson has launched a stateof-the-art manufacturing and innovation hub at the King Salman Energy Park ( Spark ) in Dammam , Saudi Arabia . The 13,000-squaremetre facility consolidates Emerson ’ s automation technology portfolio , including control systems , measurement instrumentation and various valve types . In line with Emerson ’ s net zero emission goals , the hub incorporates energy-efficient technologies and renewable energy sources , such as rooftop solar power generation and optimised compressed air and lighting systems . The facility , inaugurated by Emerson ’ s executive team led by CEO Lal Karsanbhai , expands upon the company ’ s existing Saudi operations , which include facilities in Jubail and Dhahran Techno Valley . By partnering with local suppliers , the hub aims to strengthen supply chains and improve self-sufficiency in critical industrial manufacturing within Saudi Arabia , supporting the kingdom ’ s efforts to reduce dependency on imported goods .

94 Valve World November 2024 www . valve-world . net