Banking Recap

This is a divestiture structured as a cash acquisition in the tech sector, in which Ingersoll Rand Inc. (ticker IR) is acquiring the Roots business, divested by a seller identified in the source material as Chart. The product group is M&A, and the disclosed transaction value is $300,000,000.

Deal value

The facts are sourced from an 8-K filed with the SEC via EDGAR, published on August 18, 2023. The deal's current status is pending regulatory review.

Financial advisory roles are clearly delineated by side. Citi served as financial advisor to Ingersoll Rand, the acquirer, per the statement "Citi served as financial advisor and Simpson Thacher & Bartlett LLP is serving as legal counsel to Ingersoll Rand." On the target/seller side, BofA Securities served as the lead, exclusive financial advisor to Chart, consistent with the language "BofA Securities served as exclusive financial advisor and Winston & Strawn LLP is serving as legal counsel to Chart."

Legal advisors are disclosed for both sides: Simpson Thacher & Bartlett LLP is serving as legal counsel to Ingersoll Rand, the acquirer, while Winston & Strawn LLP is serving as legal counsel to Chart, the seller.

Beyond the classification of this transaction as a divestiture/cash acquisition with a disclosed value of $300,000,000, no further detail on payment structure, financing sources, or other specific terms is included in the facts provided.

Several items are not disclosed in this record: no detail on financing sources for the cash consideration is provided, and no expected closing date is given beyond the pending-regulatory status.

Ingersoll Rand Inc. Announces Acquisition for $300.0M