Ingersoll-Rand acquires Paragon Tank Truck Equipment for $40M

Ingersoll Rand has acquired Paragon Tank Truck Equipment for an all-cash purchase price of approximately $40M. Paragon is a leading provider of solutions used for loading and unloading dry bulk and liquid tanks on and off of trucks. Its solutions include pneumatic blowers, stationary packages and accessories for dry bulk and hydraulic packages, coolers, air compressors and accessories for the liquid segment. Paragon is headquartered in Cartersville, GA, has approximately 55 employees and annual revenue of more than $25M. It will join the Industrial Technologies and Services, or ITS, segment of Ingersoll Rand.