Last September Ingersoll Rand Inc., a global provider of mission-critical flow creation and industrial solutions, signed an agreement to acquire Pedro Gil Construcciones Mecánicas, S.L. (“Pedro Gil”) – a transaction closed now- and acquired Westwood Technical Limited (“Westwood Technical”) -closed then- for a combined upfront cash purchase price of approximately $30 million.
Pedro Gil is a leading manufacturer of positive displacement blowers, pumps, and vacuum systems in the Spanish market. Pedro Gil expands Ingersoll Rand’s presence in Spain and adds an established brand to its portfolio. Pedro Gil has annual revenue of approximately $15 million and will join the Industrial Technologies and Services segment.
“These transactions highlight our funnel generation capabilities and ability to source and execute bolt-on acquisitions that improve the quality of our portfolio,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “Pedro Gil is a leader in the Spanish high-performance air blower market and increases our ability to reach and serve customers in this important geography. The AircomTM technology platform can be used with existing Ingersoll Rand products and significantly enhances our IIoT monitoring capabilities with a very cost-effective solution.”
Martínez-Echevarría multidisciplinary team advising Ingersoll was led by Corporate and M&A partner Óscar Murillo Sanz and Litigation partner Fernando Marín Riaño, and also counted on the support of associate Alberto Salgado Tortosa, a Real Estate team formed by partner Enrique Besada and associate Beatriz Fernández, an Antitrust team made up by partner Alfonso Ois Lourenzo and associate Adela Hinojosa, a Labour team, formed by partner Gonzalo Blanco Montero and associates Patricia Navarro and Alba Paz López, an Insurance team led by partner Miguel Torres Mingot, an IP team formed by partner Jose Domínguez and associate Mario Embid Ruiz and a Finance team led by Ramón Ruíz de la Torre.
Sellers were advised by Tax Economistas y Abogados with a team led by Barcelona office managing director Javier Santolaria Ontiveros and partner head of Legal Rafael Llorens, along with their teams.