March 25, 2015: Ingersoll Rand Acquires FRIGOBLOCK
Acquisition Broadens Company’s Portfolio of Transport Refrigeration Products and Services
SWORDS, Ireland — Ingersoll-Rand plc announced that it has completed the acquisition of FRIGOBLOCK. The transaction was closed for €100 million.
FRIGOBLOCK manufactures and designs transport refrigeration units for trucks and trailers in Europe, primarily sold in Northern Europe. FRIGOBLOCK operates in Essen, Germany, and is home to about 150 employees. The company’s annual revenue is approximately €41 million.
FRIGOBLOCK now becomes part of Ingersoll Rand’s Transport Solutions business, which goes to market as Thermo King. Ingersoll Rand said the acquisition strengthens its ability to deliver transport temperature control systems for a variety of mobile applications.
“Our goal for this acquisition is to provide customers with a complete portfolio of solutions that are reliable, safe, efficient, and environmentally responsible to meet their transport temperature control needs — including access to new hybrid and non-diesel options,” said Ray Pittard, president, Transport Solutions, Ingersoll Rand. “FRIGOBLOCK is a unique and pioneering company that will allow us to expand our offerings immediately in Europe. In the future, we will provide customers around the world with this technology through our extensive global dealer network.”
For more information about FRIGOBLOCK, visit www.frigoblock.com.
For more information about Ingersoll Rand, visit www.ingersollrand.com.
Publication date: 3/23/2015