February 11, 2019
Ingersoll-Rand plc (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, has announced that it has made a binding offer to acquire Precision Flow Systems (“PFS”) from funds advised by BC Partners Advisors L.P. and The Carlyle Group for $1.45 billion. The acquisition is expected to close in mid-2019, subject to regulatory approval.
Latham & Watkins advised PFS, BC Partners Advisors L.P., and The Carlyle Group on the transaction with a corporate deal team led by Washington, D.C. partner Paul Sheridan and Chicago partner Shaun Hartley. Advice was also provided on tax matters by New York partner David Raab; on employee benefits matters by Washington, D.C. partner David Della Rocca; on environmental matters by Washington, D.C. partner James Barrett; and on intellectual property matters by New York partner Steve Betensky.