Kirkland Advises Ingersoll Rand on $2.325 Billion Acquisition of ILC Dover
Kirkland & Ellis advised global provider of mission-critical flow creation and industrial solutions Ingersoll Rand Inc. (NYSE:IR) on the proposed acquisition of ILC Dover (“ILC”) from investment firm New Mountain Capital, LLC. ILC Dover is a world leader in the design and production of highly innovative solutions for biopharmaceutical, pharmaceutical and medical device markets as well as a leading supplier for the space industry. The deal includes an upfront cash purchase price of approximately $2.325 billion with an earnout tied to the achievement of select operating efficiency metrics in 2024. The acquisition was announced March 25, 2024. The deal is expected to close in the second quarter of 2024 subject to customary regulatory approvals.
Read the transaction press release
The Kirkland team was led by corporate partners Ravi Agarwal, Jennifer Perkins and Lee Blum; tax partners Mike Beinus and Adam Kool; and healthcare partners Dennis Williams and Kate Hardey.
