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Ingersoll Rand Industrial Business Completes Merger With Gardner Denver, Creating $15 Billion Company
- Client News
- March 1, 2020
Paul, Weiss advised Ingersoll-Rand plc in the merger of its Industrial business with Gardner Denver Holdings, Inc., a provider of industrial equipment and technologies. The complex cash-and-stock deal creates a $15 billion global leader in mission-critical flow creation and industrial technologies.
Under the terms of the deal, structured as a Reverse Morris Trust, the Industrial segment of the former Ingersoll-Rand plc has been separated and combined with Gardner Denver. The remaining HVAC and transport refrigeration assets of Ingersoll Rand now operate as Trane Technologies, a stand-alone company and global leader in climate control solutions for buildings, homes and transportation, trading on the New York Stock Exchange under the new ticker symbol “TT.”
The Paul, Weiss team included, among others, corporate partners Scott Barshay, Steven Williams, John Kennedy and Gregory Ezring and counsel Patricia Vaz de Almeida; tax partners Jeffrey Samuels and David Mayo and counsel Alyssa Wolpin; intellectual property partner Jonathan Ashtor; employee benefits partner Lawrence Witdorchic; real estate partner Peter Fisch and counsel Barry Langman; litigation counsel Steven Herzog; and environmental counsel William O'Brien.