Ingersoll-Rand plc (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, today announced the acquisition of United Kingdom-based ICS Group Holdings Limited (ICS Cool Energy). ICS Cool Energy will be part of the company’s Commercial Heating, Ventilation and Air Conditioning (HVAC) business.
ICS Cool Energy is a privately owned temperature control and HVAC solutions and services company that specializes in temporary rental of energy efficient chillers for commercial and industrial buildings across Europe. It also sells, permanently installs and services high performance temperature control systems for all types of industrial processes.
“ICS Cool Energy is a leader in the high margin rental services business with a reputation for strong customer service, helping building owners enhance productivity and reduce environmental impact,” said Dave Regnery, executive vice president of Ingersoll Rand. “This acquisition is a strong fit with our Trane business, and strengthens our growth plans and ability to serve a broader range of customers in the important European market.”
“We are excited to be part of Ingersoll Rand because of its market leadership, strong values and commitment to customers,” said Simon West, Group CEO for ICS Cool Energy. “Our track record of customer service, our footprint and our capabilities in temporary rental services are complementary to the Trane business. Together, we will create even greater value for European customers.”
The company is headquartered in Southampton, England and has an extensive footprint in the United Kingdom, France, Germany, the Netherlands and Switzerland.
The financial terms of the deal were not disclosed and are not material.