Ingersoll-Rand’s Dover deal not a threat to bioprocessing space, says KeyBanc

After Ingersoll-Rand (IR) said it purchased ILC Dover for $2.3B, KeyBanc analyst Paul Knight said that the deal exposes Ingersoll-Rand to a niche portfolio of Life Science applications and noted that Dover is not a significant competitor in most of the markets dominated by Avantor (AVTR), Danaher (DHR), Thermo Fisher (TMO), Repligen (RGEN), and Sartorius (SOAGY). Overall, given Dover’s niche position in such technologies and its already established presence within these workflows, the firm does not view the acquisition as a threat to the larger bioprocessing space. The analyst has an Overweight rating on Avantor, Repligen, Sartorius, Thermo Fisher, and Danaher.