Company: IR
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021883
Chunk: 98

Company: Ingersoll Rand Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 within the Industrial Technologies and Services segment.Other acquisitions completed during the three months ended March 31, 2025 include a sales and service business, which has been reported within the Industrial Technologies and Services segment. The aggregate consideration for this acquisition was $3.2 million.The following table summarizes the allocation of consideration for all businesses acquired in 2025 to the fair values of identifiable assets acquired and liabilities assumed at the acquisition dates. Initial accounting for these acquisitions is preliminary, and amounts assigned to acquired assets and liabilities assumed are subject to change as information necessary to complete the analysis is obtained.Accounts receivable$14.6 Inventories11.4 Other current assets0.3 Property, plant and equipment4.1 Goodwill113.3 Other intangible assets42.0 Other assets0.4 Total current liabilities(9.1)Deferred tax liabilities(0.4)Other noncurrent liabilities(0.2)Total consideration$176.4 The aggregate revenue and operating income (loss) included in the condensed consolidated financial statements for these acquisitions subsequent to the dates of acquisition was $9.5 million and $(0.7) million for the three month period ended March 31, 2025, respectively. The operating loss of these acquired businesses include the effects of acquisition-related accounting adjustments such as amortization of intangible assets and fair value adjustments to acquired inventory.Acquisitions in 2024On February 1, 2024, the Company completed the acquisition of Friulair S.r.l. (“Friulair”) for initial cash consideration of $143.3 million and contingent consideration of up to approximately $11.0 million. The business is a manufacturer of dryers, filters, aftercoolers, and accessories for the treatment of compressed air and its chiller product line. The acquisition is intended to increase the scale of the Company’s air dryer business and will add new chiller production capabilities. Friulair has been reported within the Industrial Technologies and Services segment. The goodwill arising from the acquisition is primarily attributable to revenue and cost synergies, anticipated growth of new and existing customers, and the assembled workforce. Substantially all of this goodwill is not expected to be deductible for tax purposes.On April 1, 2024, the Company completed the acquisition of Controlled Fluidics, LLC (“Controlled Fluidics”) for initial cash consideration of $49.9 million and contingent consideration of up to $2.0 million. The business specializes in thermoplastic,