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Company: Ingersoll Rand - Davidson, NC
Company Description: Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for our employees, customers and communities. Customers lean on us for our technology-driven excellence in mission-critical flow creation and industrial solutions across 40+ respected brands. Our products and services excel in the most complex and harsh conditions.
Nomination Category: Achievement Categories
Nomination Sub Category: Achievement in Growth
 Nomination Title: Ingersoll Rand - An Outlier in Growth
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization's history and past performance (up to 200 words):
Total 193 words used.
Today’s Ingersoll Rand touts a rich history of two leading industrial manufacturers who united in 2020, yet have been making life better for employees, customers and the planet for more than 160 years. The merger of Gardner Denver, Inc. with the Ingersoll Rand Industrials segment on March 1, 2020, created a global provider of mission-critical flow creation and industrial solutions.
The company has been listed on the NYSE for more than 120 years, making it the 16th oldest company and the 12th oldest continuously listed company. Its journey is carved by innovation, beginning in the 1850s with the debut of a revolutionary effective speed control for steam engines and the invention of its steam-powered rock drill in the 1870s.
Ingersoll Rand has grown steadily throughout its history but has experienced some of its largest growth in the past two years, largely due to corporate expansion through mergers, acquisitions and portfolio transformation. Today, the company has approximately 16,000 employees, more than 100 locations across six continents and more than 40 premium brands that serve a wide variety of industries. It operates in two segments, Industrial Technologies and Services and Precision and Science Technologies.
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated organization's customer satisfaction achievements since the beginning of 2020, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video:
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2020 that you wish to bring to the judges' attention (up to 250 words):
Total 240 words used.
2020
In March of 2020, Gardner Denver, Inc. merged with the Ingersoll Rand Industrials segment to form the new Ingersoll Rand (IR), the same month the World Health Organization declared COVID-19 a global pandemic.
In September, the company made headlines again by awarding a $150 million equity grant to all its employees to illustrate the powerful connection between ownership and engagement. The grant was the largest ever by an industrial company and is now valued at approximately $600 million.
Rallied around four strategic imperatives, the company began investing in technology to accelerate growth, expanding through strategic acquisitions, executing divestitures to enable future investment in organic and inorganic growth and strengthening its sustainability commitments.
2021
Ingersoll Rand continued that momentum in 2021 by remaining focused on portfolio optimization and strategic growth investments. It completed two large strategic divestitures with the sale of a majority interest in its High-Pressure Solutions segment (April) and the sale of its specialty vehicle technologies segment (June).
The company continued to shift its focus to sustainable, high-end growth markets by executing an aggressive M&A program. Its capital allocation strategy was supported by a robust pipeline of highly synergistic and growth-oriented targets to drive outsized market performance. Acquisitions of Seepex, Maximus, Albin Pump and MD-Kinney were among its most notable additions.
Organic growth was largely fueled by investments in innovation, technology and sustainability that align with global mega-trends. Organic growth enablers included new products, demand generation and digitation.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 244 words used.
Since 2020, Ingersoll Rand has grown three times the market rate and more than doubled its size. It has consistently outperformed both the S&P 500 and Premium Industrial Peers by more than 7,000 bps. Its share price appreciated by approximately 180% and created $20 billion in market cap. EBITDA grew 25%, 500 basis points from 2019 to 2021, growing market share by 350 basis points and reaching double-digit growth in both orders and revenue on a year-over-year basis.
Following the merger, the company has completed a total of 16 transactions and deployed more than $1billion in capital. This generated $300 million in annual revenue and replaced more than 60% of EBITDA lost from divestitures. M&A has delivered 400-500bps in annual growth and is projected 4-5% annual growth contribution.
The company introduced more than 200 new products in 2021, a 95% increase in its product innovation cadence. All new products improve energy efficiency and total cost of ownership. Technology investments and synergies with acquisitions accelerated growth and nearly doubled the company’s addressable market by $44 billion since 2019.
Ingersoll Rand has seen its largest growth in the past two years. Even during the integration of companies in the middle of a pandemic, Ingersoll Rand not only achieved great financial results, but it also built a strong foundation for long-term success. Driven by the culmination of employee ownership, strategic expansion strategies, innovation, sustainability and purpose-driven execution, its achievements and growth make the company an outlier.
- Optional: Reference here any attachments of supporting materials throughout this nomination and explain how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 22 words used.
Video - Ingersoll Rand's Journey
2021 Investor Day Presentation
Capital Allocation Strategy
2020 Business Overview
2019 Full Year Earnings
2022 Investor Profile
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