2nd December 2022
AmplifiedAg Vertical Farm Container
Corporate Deals Stock Market

Ingersoll Expands Hydroponic Portfolio With Dosatron Acquisition

Ingersoll Rand Acquires Dosatron
  • Established and respected leader in delivering solution-driven applications that include Ingersoll Rand owned Dosatron technology, focused on non-electric, water powered dosing pumps for applications in high growth sustainable markets such as hydroponics, animal health, food safety and sanitation, and water treatment
  • Expands Ingersoll Rand’s digital technology portfolio and establishes market leadership in nutrient delivery for fast growing Controlled Environment Agriculture (CEA) and hydroponics market
  • Attractive upfront adjusted EBITDA purchase multiple of approximately 10x, which is reduced by more than two turns through synergy realization by year three

Ingersoll Rand Inc. (NYSE:IR), has acquired Dosatron International L.L.C. and Dilution Solutions L.L.C. for an all-cash upfront purchase price of approximately USD 90 million, with additional future consideration of up to $15 million.

Based in Clearwater, Fla., Dosatron International is a leading technology solutions provider of water powered dosing pumps and systems in North America, with an established presence in attractive end markets including hydroponics, horticulture, animal health, food safety and sanitation, and water treatment. The company has approximately 45 employees and will join Ingersoll Rand’s Precision and Science Technologies (PST) segment.

Dosatron International is a highly regarded, customer-centric company and a leader in innovation. It brings differentiated digital controls and Industrial Internet of Things (IIoT) solutions for hydroponics, which can be leveraged across the broader Ingersoll Rand portfolio.

“Our Dosatron brand is a global leader in energy efficient, water-powered dosing technology that plays at the nexus of clean and sustainable farming. This acquisition will enable us to more closely align our new product development with end user needs,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “Dosatron International has extremely strong customer relationships in growing end markets like indoor farming and has developed unique IIoT solutions and systems to serve these customers. We see significant opportunity to introduce other Ingersoll Rand product lines including Maximus, Ion Solutions and LMI to these markets and customers.”

“We’re thrilled to combine our efforts with Ingersoll Rand to move the company’s legacy forward. This transaction provided the best combination of benefits for our most important stakeholders, our customers, and our employees,” said Eddy and Lela Kelly, co-founders of Dosatron International.

2 Comments

Cultivatd
X
%d bloggers like this: