Simpson Thacher is representing ILC Dover (“ILC”) and New Mountain Capital in connection with the announced sale of ILC to Ingersoll Rand Inc. (NYSE: IR) for an upfront cash purchase price of approximately $2.325 billion and an earnout tied to the achievement of select operating efficiency metrics in 2024. The acquisition is subject to customary regulatory approvals and is expected to close in Q2 2024.
ILC is a world-leader in the design and production of highly innovative solutions for biopharmaceutical, pharmaceutical, and medical device markets as well as a leading supplier for the space industry. ILC has a 75-year heritage of innovation and commitment to expanding its product portfolio of mission-critical applications. ILC serves its global customer base across 11 engineering and production facilities located in North America, Europe, and Asia, with more than 2,000 team members.
Simpson Thacher represented New Mountain Capital in its acquisition of ILC in 2020.
The Simpson Thacher team includes Elizabeth Cooper, Joey Mayer, Erica Egenes, Ben Kloss, Simon Teich, Gillian Wei, Dashia Kwok and Pilar Laitano Ferreira (M&A); Adam Arikat, Preston Irace and Eva Gao (Tax); Greg Grogan, Gary Tashjian and Guanxiong Xu (ECEB); Peter Guryan and Jamie Logie (Antitrust); Benjamin Persina (Credit); Lori Lesser and Rachelle Broida (Intellectual Property); Krista McManus (Real Estate); and Timothy Mulvihill and Deepa Sarkar (Environmental).