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Gardner Denver to become Ingersoll Rand in merger; HQ moving to North Carolina

Patrick Leary
Gardner Denver to become Ingersoll Rand in merger; HQ moving to North Carolina

Gardner Denver Holdings Inc. will become a brand within Ingersoll-Rand and have corporate headquarters in North Carolina under the terms of a now-confirmed merger. The Milwaukee-based manufacturer of pumps and compressors (NYSE: GDI) officially announced the merger with Ingersoll-Rand plc's industrial segment Tuesday morning, following reports leaking Sunday night. Under the terms of the merger, the new entity, temporarily called IndustrialCo but expected to operate as Ingersoll-Rand and trade under the Ireland-based company's existing ticker (NYSE: IR), will be led by Gardner Denver CEO Vicente Reynal but have its corporate operations in Davidson, North Carolina, Ingersoll-Rand's American base of operations.