Ingersoll Rand Acquires FRIGOBLOCK
Swords, Ireland, — Ingersoll-Rand plc (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, announced today it has completed the acquisition of FRIGOBLOCK. The transaction was closed on March 4, 2015 for €100 million.
FRIGOBLOCK manufactures and designs transport refrigeration units for trucks and trailers in Europe, primarily sold in Northern Europe. FRIGOBLOCK operates in Essen, Germany and is home to about 150 employees. FRIGOBLOCK’s annual revenue is approximately €41 million.
Ingersoll Rand welcomes the FRIGOBLOCK brand into the Ingersoll Rand family of brands. FRIGOBLOCK is now part of the Transport Solutions business, which goes to market as Thermo King. The acquisition strengthens Ingersoll Rand’s ability to deliver transport temperature control systems for a variety of mobile applications.
“Our goal for this acquisition is to provide customers with a complete portfolio of solutions that are reliable, safe, efficient and environmentally responsible to meet their transport temperature control needs – including access to new hybrid and nondiesel options,” said Ray Pittard, president, Transport Solutions, Ingersoll Rand. “FRIGOBLOCK is a unique and pioneering company that will allow us to expand our offerings immediately in Europe. In the future we will provide customers around the world this technology through our extensive global dealer network.”
Source: Thermo King