Ingersoll-Rand to acquire Howden Roots from Chart Industries for $300M

Ingersoll-Rand (IR) has entered into a definitive agreement to acquire Howden Roots from Chart Industries (GTLS) for an all-cash purchase price of approximately $300M. Roots is a provider of low-pressure compression and vacuum technologies. The business goes to market under the widely recognized Roots brand, which was founded in 1854. Roots has approximately $115M in revenue and an established installed base that supports a strong aftermarket business model. This acquisition is expected to close in the third quarter upon obtaining required regulatory approvals. Upon close, Roots will join Ingersoll Rand’s IT&S segment.