Gardner Denver has merged with the industrial segment of Ingersoll Rand.
According to the announcement from Ingersoll Rand: "Ingersoll Rand will separate its Industrial segment (Ingersoll Rand Industrial) by way of a spin-off to Ingersoll Rand’s shareholders and then combine it with Gardner Denver, creating a leader in mission-critical flow creation and industrial technologies (IndustrialCo).
“The HVAC and transport refrigeration assets of the current Ingersoll Rand will become a pure play global leader in climate control solutions for buildings, homes and transportation (ClimateCo)."
Gardner Denver CEO, Vicente Reynal, and executives from both companies, will lead IndustrialCo., which is expected to be called Ingersoll Rand. Gardner Denver chairman Peter Stavros will lead the board of IndustrialCo.