The Firm is representing Ingersoll Rand Inc. (NYSE: IR) in connection with its acquisition of SPX FLOW’s Air Treatment business in an all-cash transaction valued at approximately $525 million. The transaction is expected to close during the fourth quarter of 2022, subject to customary closing conditions.~~With expected revenue of approximately $180 million in 2022, the Air Treatment business is a leading manufacturer of reliable and energy efficient desiccant and refrigerated dryers, filtration systems and purifiers for dehydration in compressed air. The business has manufacturing capabilities in the U.S., Germany and South Korea with nearly 500 employees and goes to market through the highly recognized brands of Hankison®, Pneumatic Products®, Jemaco, Deltech® and Delair®.~~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.~~The Simpson Thacher team includes Eric Swedenburg, Keegan Lopez, Eilidh Reid and Wang Chen (M&A); Andrew Purcell and Edward Grais (Tax); Sara Razi, Preston Miller and Daniel Owsley (Antitrust); Tristan Brown, Harry Hudesman and Ryan Kenny (Executive Compensation & Employee Benefits); Lori Lesser, Bobbie Burrows and Rachelle Broida (Intellectual Property); Michael Isby and Timothy Mulvihill (Environmental); Steven DeLott (Insurance); Dennis Loiacono (Real Estate); and Matthew Farrell (Credit).