Ingersoll Rand (IR) Acquires Oxywise and Fraserwoods for $26M
Ingersoll Rand Inc. IR has acquired Slovakia-based Oxywise s.r.o. (Oxywise) and Canada-based Fraserwoods Fabrication and Machining Ltd. (Fraserwoods), boosting its capabilities in the high-growth, sustainable end markets. The deals were valued at a combined all-cash purchase price of roughly $26 million.
Oxywise is a market leader in several end-markets including medical, laser cutting, industrial and aquaculture. The Oxywise buyout boosts IR’s air treatment portfolio with onsite oxygen and nitrogen generating-systems based on pressure swing adsorption technology, cylinder filling systems, containerized systems and gas control solutions.
Fraserwoods offers services, repair and return, and remanufactures blowers and pumps for key original equipment manufacturers in the vacuum truck market. The acquisition of Fraserwoods bolsters Ingersoll Rand’s technical expertise and service capabilities in western Canada.
Both acquired companies will be added to Ingersoll Rand’s Industrial Technologies and Services (IT&S) segment.
Ingersoll Rand Inc. Price
Ingersoll Rand Inc. price | Ingersoll Rand Inc. Quote
Ingersoll Rand believes in expanding its market presence, solidifying its customer base and enhancing product offerings through acquisitions. In August 2023, the company completed the acquisition of Howden Roots for approximately $300 million. The acquisition expanded IR’s low-pressure compression and vacuum product offerings and adds centrifugal compression capabilities. Roots is a part of IR’s IT&S segment.
Zacks Rank & Stocks to Consider
Ingersoll Rand currently carries a Zacks Rank #3 (Hold). Some better-ranked companies from the Industrial Products sector are discussed below:
Applied Industrial Technologies, Inc. AIT presently sports a Zacks Rank #1 (Strong Buy) and has a trailing four-quarter earnings surprise of 15%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
AIT’s earnings estimates have increased 1.1% for fiscal 2024 (ending June 2024) in the past 60 days. Shares of Applied Industrial have risen 40.2% in the past year.
Graham Corporation GHM currently flaunts a Zacks Rank of 1. The company delivered a trailing four-quarter earnings surprise of approximately 243.1%, on average.
In the past 60 days, estimates for Graham’s earnings have increased 66.7% for 2023. The stock has soared 97% in the past year.
Caterpillar Inc. CAT presently carries a Zacks Rank #2 (Buy). CAT’s earnings surprise in the last four quarters was 18.5%, on average.
In the past 60 days, estimates for Caterpillar’s earnings have increased 2.2% for 2023. The stock has gained 48.1% in the past year.
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Graham Corporation (GHM) : Free Stock Analysis Report
