About Ingersoll Rand

Ingersoll Rand Inc. (Ingersoll Rand) operates as a diversified, global provider of mission-critical flow creation products and industrial solutions. The company is a global market leader with a broad range of innovative and mission-critical air, gas, liquid, and solid flow creation technologies, providing services and solutions to increase industrial productivity, efficiency, and sustainability. The company manufactures one of the broadest and most complete ranges of compressor, pump, vacuum and blower products in the company's markets, which, when combined with the company's global geographic footprint and application expertise, allows the company to provide differentiated product and service offerings to the company's customers. The company's products are sold under more than 80 market-leading brands, including Ingersoll Rand and Gardner Denver, which are globally recognized in their respective end-markets and known for product quality, reliability, efficiency and superior customer service. The company has sales in all major geographic markets and its diverse customer base utilizes the company's products across a wide array of end-markets, including life sciences, food and beverage production, clean energy, industrial manufacturing, infrastructure, water and wastewater treatment, and many others. To support the company's customers and market presence, the company maintains significant global scale with over 60 key manufacturing facilities, and over 40 complementary service and repair centers across six continents and over 18,000 employees worldwide as of December 31, 2023. The process-critical nature of the company's product applications, coupled with the standard wear and tear replacement cycles associated with the usage of the company's products, generates opportunities to support customers with the company's broad portfolio of aftermarket parts, consumables and services. The company's large installed base of products provides a recurring revenue stream through the company's aftermarket parts, consumables and services offerings. The company partners with universities, key industry and professional organizations to recruit early and mid-level talent, including Disability IN, Society of Hispanic Professional Engineer, and Women in Manufacturing. For the year ended December 31, 2023, 58% of the company's revenues were from customers in countries outside of the United States. Segments Industrial Technologies and Services The company designs, manufactures, markets and services a broad range of air and gas compression, vacuum and blower products, fluid transfer equipment, loading systems, power tools and lifting equipment, including associated aftermarket parts, consumables and services. The company primarily sells under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle, and over 30 other brands. The company's customers deploy its products across a wide array of technologies and applications for use in diverse end-markets. Compressors are used to increase the pressure of air or gas, vacuum products are used to remove air or gas in order to reduce the pressure below atmospheric levels, and blower products are used to produce a high volume of air or gas at low pressure. Almost every manufacturing and industrial facility, and many service and process industry applications, use air compression, vacuum and blower products in a variety of process-critical applications, such as the operation of pneumatic tools, pumps and motion control components, air and gas separation, vacuum packaging of food products and aeration of waste water, among others. The company's liquid ring vacuum pumps and compressors are used in many power generation, mining, oil and gas refining and processing, chemical processing and general industrial applications, including flare gas and vapor recovery, geothermal gas removal, vacuum de-aeration, water extraction in mining and paper and chlorine compression in petrochemical operations. The company's engineered loading systems and fluid transfer equipment ensure the safe handling and transfer of crude oil, liquefied natural gas, compressed natural gas, chemicals, and bulk materials. The company's power tools and lifting equipment portfolio includes electric and cordless fastening systems, pneumatic bolting tools, drilling and material removal tools, hoists, winches and ergonomic handling devices. Typical applications for these products include the precision fastening of bolted joints in the production, assembly and servicing of industrial machinery, on-highway and off-highway vehicles, aircraft, electronics and other equipment. The company's compression products cover the full range of technologies, including rotary screw, reciprocating piston, scroll, rotary vane and centrifugal compressors. The company's vacuum products and blowers also cover the full technology spectrum; vacuum technologies include side channel, liquid ring, claw vacuum, screw, turbo and rotary vane vacuum pumps among others, while blower technologies include rotary lobe, screw, claw and vane, side channel and radial blowers. The company's liquid ring vacuum pumps and compressors are highly-engineered products specifically designed for continuous duty in harsh environments to serve a wide range of applications, including oil and gas refining and processing, mining, chemical processing and industrial applications. In addition to the company's vacuum and blower technology, the company's engineered fluid loading and transfer equipment and systems ensure the safe and efficient transportation and transfer of petroleum products as well as certain other liquid commodity products in a wide range of industries. The company complements these products with a broad portfolio of service options tailored to customer needs and a complete range of aftermarket parts, air treatment equipment, controls and other accessories delivered through the company's global network of manufacturing and service locations and distributor partners. The breadth and depth of the company's product offering creates incremental business opportunities by allowing the company to cross-sell its full product portfolio and uniquely address customers' needs in one complete solution. The company sells its products through an integrated network of direct sales representatives and independent distributors, which is strategically tailored to meet the dynamics of each target geography or end-market. The company's large installed base also provides for a significant stream of recurring aftermarket revenue. Precision and Science Technologies The company designs, manufactures and markets a broad range of highly-specialized positive displacement pumps, fluid management systems, accessories and aftermarket parts that provide liquid and gas dosing, transfer, dispensing, compression, sampling, pressure management and flow control in specialized or critical applications. The company's offerings cover a range of pump and flow control technology types. This includes diaphragm pumps, piston pumps, water-powered pumps, peristaltic pumps, gear pumps, vane pumps, progressive cavity pumps, syringe pumps, gas boosters, hydrogen compression systems, automated liquid handling systems, odorant injection systems, controls, software and other related components and accessories. These offerings are sold under brands that are highly recognized in their end markets, including Air Dimensions, Albin, ARO, Dosatron, Haskel, Ingersoll Rand, LMI, Maximus, Milton Roy, MP, Oberdorfer, Seepex, Thomas, Welch, Williams, YZ and Zinsser Analytic. The company's customer base is composed of a wide range of end users in markets, including life sciences, industrial manufacturing, water and waste water, chemical processing, energy, food and beverage, agriculture and others. The company's sales are realized primarily through a combination of independent specialty and national distributors and relationships directly with original equipment manufacturers ('OEM'); engineering, procurement and construction ('EPC') companies; and end users. Acquisitions In January 2023, the company completed the acquisition of SPX FLOW's Air Treatment business. The Air Treatment business offerings include energy efficient compressed air dryers, filters and other consumables that are highly complementary to Ingersoll Rand's core compressor equipment. In August 2023, the company completed the acquisition of Howden Roots LLC ('Roots'). Roots is a leading manufacturer of engineered rotary and centrifugal blowers with an iconic brand developed over more than 160 years. Industries and Products Industrial Technologies and Services The company's Industrial Technologies and Services segment designs, manufactures, markets and services a broad range of air compression, vacuum and blower products across a wide array of technologies. Compression, vacuum and blower products are used in a wide spectrum of applications in nearly all manufacturing and industrial facilities and many service and process industries in a variety of end-markets, including clean energy, life sciences, food and beverage production, general manufacturing, infrastructure, and others. Compression Products Sales to industrial end-markets include industrial air compression products, as well as associated aftermarket parts, consumables and services. Industrial air compressors compress air to create pressure to power machinery, industrial tools, material handling systems and automated equipment. Compressed air is also used in applications as diversified as snow making and fish farming, on high-speed trains and in hospitals. Compressors can be either stationary or portable, depending on the requirements of the application or customer. The company focuses on five basic types of air compression technologies: rotary screw, reciprocating piston, scroll, rotary vane and centrifugal compressors. Rotary screw compressors are a newer technology than reciprocating compressors and exhibit better suitability for continuous processes due to a more compact size, less maintenance and better noise profile. The company's reciprocating piston compressors provide one of the broadest ranges of pressures in the market and are supported by increasing demand across wide-ranging attractive end-markets. Scroll compressors are most commonly seen where less oil-free air is needed, and is most commonly used in medical and food applications where the need for pure, clean and precise air is of great importance. Rotary vane compressors feature high efficiency, compact compression technology and can be found throughout all sectors of industry, including automotive, food and beverage, energy and manufacturing with specialized solutions within transit, gas and snow making. Centrifugal compressors are most effective when in applications that demand larger quantities of oil-free air and are utilized across a wide range of industries. Vacuum Products Industrial vacuum products are integral to manufacturing processes in applications for packaging, pneumatic conveying, drying, holding / lifting, distillation, evacuation, forming / pressing, removal and coating. Within each of these processes are a multitude of sub-applications. As an example of one such end-process, within packaging, a vacuum will be used on blister packaging, foil handling, labeling, carton erection, stacking and palletizing (placing, stacking or transporting goods on pallets), as well as central vacuum supply for entire packaging departments. The company focuses on five basic types of vacuum technologies: side channel, liquid ring, claw vacuum, screw and rotary vane vacuum pumps. Side channel vacuum pumps are used for conveying gases and gas-air mixtures in a variety of applications, including laser printers, packaging, soil treatment, textiles and food and beverage products. Liquid ring vacuum pumps are used for extreme conditions, which prevail in humid and wet processes across ceramics, environmental, medical and plastics applications. Claw vacuum pumps efficiently and economically generate contact-free vacuum for chemical, environmental and packaging applications. Screw vacuum pumps are a dry running technology used to reduce the carbon footprint and life cycle costs in drying and packaging applications. Rotary vane vacuum pumps are used for vacuum and combined pressure and vacuum applications in the environmental, woodworking, packaging and food and beverage end-markets. Blower Products Blower products are used for conveying high volumes of air and gas at various flow rates and at low pressures, and are utilized in a broad range of industrial and environmental applications, including waste water aeration, biogas upgrading and conveying, pneumatic transport and dehydrating applications for food and beverage, cement, pharmaceutical, petrochemical and mobile industrial applications. In many cases, blowers are a core component for the operation of the entire end-users' systems. The company focuses on several key technologies within blower products: rotary lobe, screw, claw and vane, turbo, side channel and radial blowers. Rotary lobe blowers, screw blowers and claw and vane blowers are positive displacement technologies that have the ability to consistently move the same volume of gas or air and vary the volume flow according to the speed of the machine itself enabling it to adapt the flow condition in a flexible manner despite pressure in the system. Turbo blowers and side channel and radial blowers are dynamic technologies that have the ability to accelerate gas or air through an impeller and transform their kinetic energy at the discharge with some limitation on flexibility. Precision and Science Technologies The Precision and Science Technologies segment designs, manufactures and markets a broad range of niche fluidics solutions for the life sciences, food and beverage, water and wastewater, general manufacturing, chemical processing, clean energy, and other end markets. Key technologies include positive displacement pumps, gas, liquid and precision syringe pumps, automated liquid handling systems and hydrogen refueling stations. Positive Displacement (PD) Pumps Positive displacement pumps are essential to highly specialized flow applications across many industries. The company is a market leader in positive displacement, covering the main technology types, including diaphragm, vane, piston, progressive cavity, peristaltic and gear. In the life sciences end-market, the company's gas and liquid pumps are used for a wide range of applications, such as aspirators, blood analyzers, compression therapy, dialysis machines, gas monitors, ventilators, and scientific instrumentation within in vitro diagnostics and R&D laboratories. In the water and environmental end-market, the company's pumps and related equipment are used for water treatment in municipal and industrial facilities, such as in dosing and sludge transfer. In agriculture, the company's pumps are used for nutrient and medicine dosing to livestock, plants and medicinals. In the emerging market of hydrogen powered vehicles, the company is a leader in refueling stations that utilize the company's unique heritage in industrial gas compression pumps. Finally in the general industrial end-market, the company's pumps and accessories serve a broad range of niche applications, such as in the handling of abrasive or chemically active fluids, as well as gases. Controls and Software Equipment controls and software are of increasing importance in the company's flow control applications for both the optimization of current systems as well as to enable the Industrial Internet of Things ('IIOT') evolution. In the agriculture market, the company sells controllers and software that monitor and control the main functions within livestock and greenhouse facility operations with the benefit of reducing cost and improving yield. In natural gas pipelines and distribution, the company sells monitoring devices connected to cloud-based software for real time monitoring of odor injection pumping systems which enhances safety and reduces costs. Similarly, on the company's positive displacement progressive cavity sludge pumps, the company sells monitoring devices and cloud-based software for real-time pump health and performance monitoring, which prevents costly downtime in water treatment plants, as well as in industrial installations. Robotics The company's automated liquid handling products, which includes syringe pumps and accessories, are integrated into large-scale, automated liquid handling systems used within clinical, pharmaceutical and environmental applications. These automated systems provide accurate and efficient dosing, sampling and handling of critical fluids at increasingly ultra-low flow levels, which are required in lab and life science applications. Competition Industrial Technologies and Services The company's principal competitors in sales of compression, vacuum and blower products include Atlas Copco, Flowserve, IDEX Corporation and Kaeser Compressors. Precision and Science Technologies The company's primary competitors include Dover, Graco, IDEX Corporation, KNF Neuberger, Netzsch, NOV, SPX Flow, Thermo Fisher Scientific, and Watson-Marlow. Customers and Customer Service The company considers superior customer service to be one of the company's primary pillars of future success and view it as being built upon a foundation of critical application expertise, an industry leading range of compressor, pump, vacuum and blower products, a global manufacturing and sales presence and a long-standing reputation for quality and reliability. The company strives to collaborate with its customers and become an essential part of their engineering process by drawing on the company's deep industry and application engineering experience to develop best-in-class products that are critical to the processes and systems in which they operate. The company has established strong and long-standing customer relationships with numerous industry leaders. The company sells its products directly to end-use customers and to certain OEMs, and indirectly through independent distributors and sales representatives. The company uses a direct sales force to serve end-use customers and OEMs because these customers typically require higher levels of technical assistance, more coordinated shipment scheduling and more complex product service than customers that purchase through distributors. The company has distribution centers and warehouses that stock parts, accessories and certain products to provide adequate and timely availability. In addition to the company's direct sales force, the company is committed to developing and supporting the company's global network of distributors and representatives who provide a competitive advantage in the markets and industries the company serves. These distributors maintain an inventory of complete units and parts and provide aftermarket services to end-users. While most distributors provide a broad range of products from different suppliers, the company views its distributors as exclusive at the product category level (e.g. compressor, vacuum and blower). For example, a distributor may exclusively carry the company's compressor technologies, and also source additional components of the broader industrial system in which those products operate from other suppliers. The company's service personnel and product engineers provide the distributors' service representatives with technical assistance and field training, particularly with respect to installation and repair of equipment. The company also provides its distributors with sales and product literature, advertising and sales promotions, order-entry and tracking systems and an annual restocking program. Furthermore, the company participates in major trade shows and directly market the company's offerings to generate sales leads and support the distributors' sales personnel. Patents, Tradenames, and Other Intellectual Property The company has more than 1,800 patents. The company has Ingersoll Rand and Gardner Denver tradenames. The company has registered its tradenames in the countries the company deems necessary or in its best interest. Pursuant to tradename license agreements, Cooper Industries has exclusive rights to use the Gardner Denver tradename for certain power tools and their components, meaning that the company is prevented from using this mark in connection with those products. Research and Development For the year ended December 31, 2023, the company spent $108 million on research activities relating to the development of new products and new product applications. Environmental Matters The company is subject to numerous federal, state, local and foreign laws and regulations relating to the storage, handling, emission and disposal of materials and discharge of materials into the environment. The company is also subject to laws concerning the cleanup of hazardous substances and wastes, such as the U.S. federal 'Superfund' and similar state laws that impose liability for cleanup of certain waste sites and for related natural resource damages. The company has been identified as a potentially responsible party with respect to several sites designated for cleanup under the 'Superfund' or similar state laws. History The company was founded in 1859. It was incorporated in 2013. The company was formerly known as Gardner Denver Holdings, Inc. and changed its name to Ingersoll Rand Inc. in 2020.