Ingersoll Rand to acquire Everest Group and Airmax Groupe

Ingersoll Rand Inc has entered into agreements to acquire India’s Everest Group and France’s Airmax Groupe for a combined US$86 million.

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Everest Group provides customized blower and vacuum pump solutions with a significant focus on innovation and exposure to high-growth, sustainable end markets including water treatment, pharma and food and beverage. The company has two manufacturing locations near Delhi in India and approximately 420 employees. Everest adds high flow, low pressure vacuum dry screw pumps, vacuum boosters and a new line of positive displacement blowers and packages to Ingersoll Rand’s product offering.

Airmax is a French compressed air specialist with a technician network focused on aftermarket service. The company has approximately 100 employees and nine locations across France. The acquisition of Airmax will strengthen Ingersoll Rand’s position in France and adds strong local market expertise with significant recurring revenue from aftermarket service.

Both acquisitions are expected to close in the fourth quarter of 2022 and will join Ingersoll Rand’s Industrial Technologies and Services (ITS) segment.

Everest Group is the leading domestic manufacturer of blowers and vacuum systems in India and significantly expands our presence in this key growth market. Additionally, it expands our vacuum product line with opportunities to grow both domestically and globally,” said Enrique Minarro Viseras, senior vice president and general manager of Ingersoll Rand’s ITS EMEIA business. “Airmax is our largest channel partner in France and we have worked with them for multiple decades. The team has deep local market knowledge, a commitment to customer service and energy optimization expertise and I am thrilled they are joining the Ingersoll Rand family.”