Ingersoll Rand Inc. (IR)

Ingersoll Rand Inc. is a diversified, global provider of mission-critical flow creation products and industrial and life science solutions. It offers one of the broadest ranges of compressor, pump, vacuum and blower products across air, gas, powder and liquid handling applications, sold under more than 90 brands, including Ingersoll Rand and Gardner Denver. The company has over 165 years of engineering heritage and over 21,000 employees worldwide. A large installed base generates recurring aftermarket revenue from parts, consumables and services, which was 36.5% of total revenue in 2025.

The company operates two segments. Industrial Technologies and Services designs, manufactures, markets and services air and gas compression and treatment equipment, vacuum and blower products, fluid transfer equipment, loading systems, power tools and lifting equipment, along with aftermarket parts, consumables and services. Its brands include Ingersoll Rand, Gardner Denver, Nash, CompAir and Elmo Rietschle. Compression technologies include rotary screw, reciprocating piston, scroll, rotary vane and centrifugal, and vacuum and blower products also span a full range of technologies. Precision and Science Technologies makes specialized equipment for industrial and life sciences markets, in two major categories. Pumps and liquid handling systems include diaphragm, piston, peristaltic, gear, vane, progressive cavity and syringe pumps, gas boosters, hydrogen compression systems, automated liquid handling systems, and controls and software. Life science tools and systems include single-use powder and liquid handling systems, isolators, and contract design and production of medical device components, sold mainly under the ILC Dover and Flexan brands. This segment also makes space suits, inflatable habitats and lighter-than-air vehicles. In 2025 the company acquired SSI Aeration, a maker of wastewater treatment equipment, for $97.8 million, and Termomeccanica Industrial Compressors and its subsidiary Adicomp, for $193.2 million. It also repurchased $1,018.0 million of its common stock and paid $31.8 million in dividends.

Ingersoll Rand sells in all major geographic markets to a diverse customer base. End-markets include life sciences, food and beverage, clean energy, industrial manufacturing, infrastructure, water and wastewater treatment, chemical processing, energy, agriculture and aerospace. No customer accounted for more than 10% of 2025 revenue. Products are sold directly to end users, OEMs and EPC firms, and through independent distributors and sales representatives. Distributors hold inventory and provide aftermarket service, and the company views them as exclusive at the product category level.

The company operates over 60 key manufacturing facilities and over 50 service and repair centers across six continents. Its main raw materials are cast iron, aluminum, steel and copper, the last used in motors. Most are available from multiple suppliers, though it still uses single sources for certain castings, motors and other engineered components. It holds more than 2,000 patents, and the Ingersoll Rand and Gardner Denver tradenames are material to the business. Principal competitors in Industrial Technologies and Services include Atlas Copco, Flowserve, IDEX, Kaeser Compressors, Kaishan Group and Elgi Equipments. In Precision and Science Technologies they include Dover, Graco, IDEX, KNF Neuberger, Netzsch, NOV, Sartorius, SPX Flow, Thermo Fisher Scientific and Watson-Marlow.