Ingersoll Rand’s $1.46 Billion Shares Offering and Concurrent Share Repurchase

Simpson Thacher advised Ingersoll Rand Inc. and KKR Renaissance Aggregator L.P. on the deal.

Ingersoll Rand Inc. and KKR Renaissance Aggregator L.P. (the Selling Stockholder) executed an underwritten secondary offering of 29,788,635 shares of common stock of Ingersoll Rand by the Selling Stockholder for aggregate gross proceeds of approximately $1.46 billion and a concurrent repurchase by Ingersoll Rand of 14,894,317 of those shares from the underwriter in the offering. The Selling Stockholder received all proceeds from the offering.

J.P. Morgan Securities LLC acted as the underwriter of the offering.

Ingersoll Rand, driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for its employees, customers and communities. Customers lean on Ingersoll Rand for its technology-driven excellence in mission-critical flow creation and industrial solutions across 40+ respected brands where its products and services excel in the most complex and harsh conditions. Ingersoll Rand’s employees develop customers for life through their daily commitment to expertise, productivity and efficiency.

The Simpson Thacher team included Richard Fenyes (Picture), Brian E. Rosenzweig and Jieun Lim (Capital Markets); Amanda Weiss (Public Company Advisory Practice); and Nancy Mehlman and Jodi Schneider (Tax).

Involved fees earner: Richard Fenyes – Simpson Thacher & Bartlett; Jieun Lim – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Brian Rosenzweig – Simpson Thacher & Bartlett; Jodi Schneider – Simpson Thacher & Bartlett; Amanda Weiss – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Ingersoll-Rand Company; KKR Renaissance Aggregator;

Author: Martina Bellini