Ingersoll-Rand Acquires German Truck Refrigeration Company
Ingersoll Rand plc has announced it has completed the acquisition of FRIGOBLOCK. The transaction was closed on March 4, 2015 for €100 million.
FRIGOBLOCK manufactures and designs transport refrigeration units for trucks and trailers in Europe, primarily sold in Northern Europe. FRIGOBLOCK operates in Essen, Germany, and has about 150 employees. FRIGOBLOCK’s annual revenue is approximately €41 million.
FRIGOBLOCK will now be part of the Transport Solutions business, which goes to market as Thermo King. The acquisition strengthens Ingersoll Rand’s ability to deliver transport temperature control systems for a variety of mobile applications, according to the company.
“Our goal for this acquisition is to provide customers with a complete portfolio of solutions that are reliable, safe, efficient and environmentally responsible to meet their transport temperature control needs – including access to new hybrid and non-diesel options,” said Ray Pittard, president, Transport Solutions, Ingersoll Rand. “FRIGOBLOCK is a unique and pioneering company that will allow us to expand our offerings immediately in Europe. In the future we will provide customers around the world this technology through our extensive global dealer network.”