Ingersoll Rand Divests Legacy Asbestos Liabilities
06.11.24
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Simpson Thacher represented Ingersoll Rand Inc. (NYSE: IR) in its divestiture of its legacy asbestos liability through its sale of wholly-owned subsidiaries holding these liabilities and related insurance assets to Delticus Group (“Delticus”).
Ingersoll Rand is a global provider of mission-critical flow creation and industrial solutions, which it sells across multiple attractive end-markets within the industrial, energy and medical industries.
Delticus is a leading, institutionally capitalized corporate liability acquisition platform that specializes in acquiring and managing long-tail legacy corporate liabilities. Delticus is owned by entities affiliated with Third Point LLC.
The Simpson Thacher team includes Ravi Purushotham, Keegan Lopez, Cathleen Ye and Josh Brachfeld (M&A); Jamie Fell (Corporate Restructuring); and Andrew Purcell, Andrew Mandelbaum and Mohanad Salaimi (Tax).