Gardner Denver’s $15 Billion Merger With Ingersoll Rand’s Industrial Segment

Davis Polk provided antitrust and competition advice to Ingersoll-Rand plc in connection with the approximately $15 billion combination of its Industrial segment with Gardner Denver Holdings, Inc. Simpson Thacher represented Gardner Denver Holdings, Inc. in this transaction. Paul, Weiss, Rifkind, Wharton & Garrison advised Ingersoll-Rand plc on the deal.

The complex cash-and-stock deal creates a $15 billion global leader in mission-critical flow creation and industrial technologies.

The transaction will be effected through a “Reverse Morris Trust” transaction pursuant to which Ingersoll Rand Industrial is expected to be spun off to Ingersoll Rand’s shareholders and simultaneously merged with and surviving as a wholly owned subsidiary of Gardner Denver.

The remaining HVAC and transport refrigeration assets of Ingersoll Rand now operate as Trane Technologies, a stand-alone company and global leader in climate control solutions for buildings, homes and transportation, trading on the New York Stock Exchange under the new ticker symbol “TT.”

Through a family of brands, Ingersoll Rand enhances the quality and comfort of air in homes and buildings; transports and protects food and perishables; and increases industrial productivity and efficiency.

Gardner Denver is a global provider of mission-critical flow control and compression equipment and associated aftermarket parts, consumables and services.

The Davis Polk antitrust and competition team included partner Ronan P. Harty (Picture) and associate Benjamin M. Miller.

The Simpson Thacher team included Marni Lerner, Mark Pflug, Matthew Gabbard, James Nguyen and Hyo Min Kim (M&A); Richard Fenyes and Amanda Weiss (Capital Markets); James Cross, Matthew Farrell and Alejandro Sueldo (Credit); Nancy Mehlman, Drew Purcell, Jodi Schneider and Caroline Phillips (Tax); Tristan Brown, Alyssa Ohanian, Ashlie Lawton and Erik Ward (Executive Compensation & Benefits); Whitney Salinas and Dennis Loiacono (Real Estate); Lori Lesser and Genevieve Dorment (Intellectual Property); and Steven DeLott (Insurance). Patricia Adams also provided valuable assistance.

The Paul, Weiss team included corporate partners Scott Barshay, Steven Williams, John Kennedy, Gregory Ezring and Rachael Coffey and counsel Patricia Vaz de Almeida and Caith Kushner; tax partners Jeffrey Samuels and David Mayo and counsel Alyssa Wolpin; intellectual property partner Jonathan Ashtor; employee benefits partner Lawrence Witdorchic; real estate partner Peter Fisch and counsel Barry Langman; litigation counsel Steven Herzog; and environmental counsel William O’Brien.

Involved fees earner: James Nguyen – Allens; Ronan Harty – Davis Polk & Wardwell; Benjamin Miller – Davis Polk & Wardwell; Jonathan Ashtor – Paul Weiss Rifkind Wharton & Garrison; Scott Barshay – Paul Weiss Rifkind Wharton & Garrison; Rachael Coffey – Paul Weiss Rifkind Wharton & Garrison; Gregory Ezring – Paul Weiss Rifkind Wharton & Garrison; Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Steven Herzog – Paul Weiss Rifkind Wharton & Garrison; John Kennedy – Paul Weiss Rifkind Wharton & Garrison; Caith Kushner – Paul Weiss Rifkind Wharton & Garrison; Barry Langman – Paul Weiss Rifkind Wharton & Garrison; David Mayo – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Samuels – Paul Weiss Rifkind Wharton & Garrison; Patricia Vaz de Almeida – Paul Weiss Rifkind Wharton & Garrison; Steven Williams – Paul Weiss Rifkind Wharton & Garrison; Lawrence Witdorchic – Paul Weiss Rifkind Wharton & Garrison; Alyssa Wolpin – Paul Weiss Rifkind Wharton & Garrison; Patricia Adams – Simpson Thacher & Bartlett; Tristan Brown – Simpson Thacher & Bartlett; James Cross – Simpson Thacher & Bartlett; Steven DeLott – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Matthew Farrell – Simpson Thacher & Bartlett; Richard Fenyes – Simpson Thacher & Bartlett; Matthew Gabbard – Simpson Thacher & Bartlett; Hyo Min Kim – Simpson Thacher & Bartlett; Ashlie Lawton – Simpson Thacher & Bartlett; Marni Lerner – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Alyssa Ohanian – Simpson Thacher & Bartlett; Mark Pflug – Simpson Thacher & Bartlett; Caroline Phillips – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; Whitney Salinas – Simpson Thacher & Bartlett; Jodi Schneider – Simpson Thacher & Bartlett; Alejandro Sueldo – Simpson Thacher & Bartlett; Erik Ward – Simpson Thacher & Bartlett; Amanda Weiss – Simpson Thacher & Bartlett;

Law Firms: Allens; Davis Polk & Wardwell; Paul Weiss Rifkind Wharton & Garrison; Simpson Thacher & Bartlett;

Clients: Gardner Denver Holdings Inc; Ingersoll-Rand plc;

Author: Ambrogio Visconti