American Industrial Partners Signs Agreement to Acquire the High Pressure Solutions Segment of Ingersoll Rand
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HOUSTON, Feb. 16, 2021 /PRNewswire/ American Industrial Partners ( AIP ) announced today the signing of an agreement to acquire a majority interest in the High Pressure Solutions Segment ( HPS or the Company ) of Ingersoll Rand (formerly part of Gardner Denver s Energy Segment). The transaction is subject to customary closing conditions and is expected to be completed in the first half of 2021.
AIP was attracted to HPS due to its position as a premier market leader in the manufacturing, service, and repair of high-pressure pumps and related consumables in the upstream energy market. The completion of the transaction will result in HPS becoming a stand-alone business, enabling the Company to focus its efforts on best serving its customers in the upstream oilfield service sector, while continuing its legacy o