Benzinga | Apr 12, 2021 07:43AM EDT

Ingersoll Rand To Sell Club Car Segment To Platinum Equity For $1.68B

Ingersoll Rand Inc. (NYSE:IR), a global provider of mission-critical flow creation and industrial solutions, has entered into an agreement to sell its Specialty Vehicle Technologies Segment ("Club Car") to the global private equity firm Platinum Equity. The all-cash transaction is valued at $1.68 billion, which is approximately 12.1x 2020 Specialty Vehicle Technologies Segment Adjusted EBITDA, and is expected to be completed by the third quarter of 2021, subject to customary closing conditions.