Cameron International Corporation has sold its Centrifugal Compression division to Ingersoll-Rand Plc for $850 million, a deal the buyer said would expand its industrial products operations with a series of systems and aftermarket parts for air separation, gas transmission and process gas applications.
In processing natural gas for electrical energy, centrifugal compressors are used to transfer energy from a series of rotating impeller blades to the gas. The gas flow is radial, thus the descriptor “centrifugal,” and the energy transfer is caused from a change in the centrifugal forces acting on the gas.
The Cameron division generated sales of approximately $400 million in 2013, and has approximately 850 employees at 12 operations worldwide.
Ingersoll-Rand is a multinational portfolio of businesses that include air-quality management, thermal control, industrial controls, and transportation. Some of its brands include Club Car, Ingersoll-Rand, Thermo King, and Trane. The new holdings will add Turbo-Air and MSG brands to the portfolio.
“Acquiring Cameron’s Centrifugal Compression division and its exceptional line of products has provided Ingersoll Rand the opportunity to expand our industrial segment, allowing us to better serve our industry, shareholders and employees,” said Michael W. Lamach, chairman and CEO. “We’re pleased to expand Ingersoll Rand’s compressed air and gas offerings into areas such as air separation, petrochemical, chemical and process gas.”
With the new holding, Ingersoll-Rand’s Compressed Air Systems and Services business will supply a comprehensive range of centrifugal, reciprocating, and rotary air compressor products, systems and services for industrial, manufacturing, air separation, and process gas applications.