Ingersoll Rand acquires ILC Dover for $2.325bn, expanding its life sciences market presence.

Ingersoll Rand will acquire ILC Dover, a leader in innovative solutions for biopharmaceutical, pharmaceutical, and medical device markets, for around $2.325bn in cash, with an additional earnout tied to operating efficiency metrics in 2024. The deal expands Ingersoll Rand's presence in the life sciences industry, increasing its addressable market by over $10bn, taking it to approximately $65bn. The acquisition is expected to be immediately accretive to growth and margin rates.