BERLIN (dpa-AFX) - Ingersoll Rand Inc. (IR), a provider of mission-critical flow creation and industrial solutions on Wednesday said it completed the acquisition of Seepex GmbH (Seepex). The all-cash acquisition, valued at 431.5 million euros, was announced on June 21.
Seepex is a Germany based manufacturer of progressive cavity pumps, that primarily serves water, wastewater, food and beverage, and chemical end markets.
Seepex which has facilities in North America, Europe and Asia Pacific, approximately 800 employees and annual revenue of approximately 160 million euros will join the Precision and Science Technologies segment of Ingersoll Rand. Ingersoll Rand Execution Excellence (IRX) served as the catalyst to complete the transaction ahead of commitment.
Ingersoll Rand closed Tuesday's trading at $53.02, down $0.23 or 0.43 percent from previous close.
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