Tuthill Corporation has agreed to sell the assets of its Tuthill Vacuum & Blower Systems division to Ingersoll Rand Inc. [NYSE: IR]. The all-cash transaction, valued at $184 million, is expected to close Q1 2021 or earlier upon obtaining required regulatory approvals and necessary third-party consents.
Ingersoll Rand is a global provider of mission-critical flow creation and industrial solutions. Tuthill Vacuum & Blower Systems designs and manufactures high performance, reliable positive displacement blowers, mechanical vacuum pumps, vacuum boosters, and engineered systems, with branded products including KINNEY® vacuum pumps and M-D Pneumatics™ blowers & vacuum boosters. Tuthill Vacuum & Blower Systems is based in Springfield, Missouri, USA, has approximately 160 employees, and an annual revenue of approximately $60 million
EC M&A acted as M&A advisor to Tuthill Corporation on this transaction.