Hi-line Industries, a compressed air purification equipment provider, has been acquired by Ingersoll Rand.
The multinational, US-based air compressor specialist will provide financing to Hi-line Industries, allowing the company to grow its business and global footprint.
The deal comes off the back of 12 months of negotiations, and Hi-line Industries will continue to build and sell its products with no price amendments.
Steve Smith will also remain the Managing Director of the company.
He commented: “At the launch day I explained to our staff that the acquisition by Ingersoll Rand was akin to a wealthy investor buying a football club. The investor recognises potential in the team, invests in the purchase of the club, and provides funding to buy players and grow.”
With Ingersoll Rand's investment, Hi-line woll be able to add Industry 4.1 IoT capabilities to all its controllers by the end of 2024.
The deal will allow grant Ingersoll Rand access to Hi-line's range of alternative filter elements, as well as its series of Hi-PLEZ dual technology dryer skids.
Steve concluded: "We are looking to grow our ACRIB-registered team of service technicians via a new recruitment drive that will deliver even more support for our broad product range.”