Ingersoll-Rand To Buy FRIGOBLOCK For €100 Mln - Quick Facts

(RTTNews) - Ingersoll-Rand plc (IR) said it has entered into an agreement to acquire FRIGOBLOCK for €100 million. The acquisition is expected to close in the first half of 2015, subject to regulatory approval.

Commenting on FRIGOBLOCK, the company said it 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.

Ingersoll-Rand said it expects the business to be accretive to EPS, EBITDA margins and ROIC in its first full year of operation.

Upon closing of the transaction, Ingersoll Rand will welcome the FRIGOBLOCK brand into the Ingersoll Rand family of brands and will become part of the Transport Solutions business, which goes to market as Thermo King and is consolidated within the company's Climate Segment.

According to the company, the FRIGOBLOCK facility will become a global competence center for electrical and environmentally sustainable systems for transport refrigeration at Ingersoll Rand. The acquisition will add to Thermo King's strength in delivering safe, reliable and efficient transport temperature control systems for a variety of mobile applications.