Igersoll Rand Inc., a global provider of mission-critical flow creation and industrial solutions, has acquired Houdstermaatschappij Jorc B.V. (Jorc) for an all-cash purchase price of €27 million. Jorc will join the Industrial Technologies and Services (ITS) segment.
Jorc is a world-leading manufacturer of condensate management products, primarily condensate drains, oil/water separators and air-saving equipment. The company is based in Heerlen, Netherlands and has additional facilities in the US and Slovenia. Jorc has approximately €13 million in 2021 annual sales and 2021 Adjusted EBITDA margins in excess of the ITS segment.
Detailing on the development, Enrique Minarro Viseras, Senior Vice President and General Manager of the ITS EMEIA business, Ingersoll Rand, said, “The addition of Jorc fills a strategic gap in our portfolio that enables us to provide a more end-to-end solution to our customers. From their energy-saving electronic drain to oil/water separators compliant with environmental regulatory agencies, Jorc’s family-built business and focus on sustainability is a natural fit with our values and purpose to Lean on Us to Help You Make Life Better. I am excited to welcome the Jorc team into the Ingersoll Rand family and look forward to the great things we can do together.”
