Davidson, N.C.-based industrial OEM Ingersoll Rand Inc. has acquired plastic component supplier Controlled Fluidics and Ethafilter srl, a filter producer, to access new markets including in-vitro diagnostics, genomics and sterile filter technology.
"There will not be any immediate leadership or workforce changes at either Controlled Fluidics or Ethafilter," a spokesperson for Ingersoll Rand told Plastics News in an emailed statement.
The company will take on Controlled Fluidics' 50 employees and Ethafilter's 25 employees, the spokesperson said.
Controlled Fluidics has two sites in the United States where it produces thermoplastic, high-performance plastic bonding and custom plastic assembly products for life sciences, medical, aerospace and industrial applications.
"The acquisition will complement Ingersoll Rand's current life sciences offerings and increase the company's market share in high-growth, sustainable end markets," an April 3 news release said.
The company will become a part of Ingersoll Rand's precision and science technologies segment.
Italy-based Ethafilter produces filters and filter elements that can be used with all major brands in the compressed air sector, it said.
"The acquisition will expand Ingersoll Rand's product portfolio, extend its reach in highly attractive end markets with the addition of sterile filter technology, and drive ongoing growth from aftermarket services and offerings," the release added.
Ethafilter will join the company's industrial technologies and services segment.
"We are excited about the opportunities to grow our market share with new revenue streams and access to new markets through these acquisitions," the spokeperson told PN.
Ingersoll Rand declined to comment on the cost of the investments.
"The acquisitions of Controlled Fluidics and Ethafilter are the latest examples of our continued strategy to acquire adjacent technologies that will complement our core offerings and provide opportunities for growth," Vicente Reynal, chairman and CEO of Ingersoll Rand, said in the release. "We continue to compound our growth with strategic acquisitions that can ensure the durability of our business."