The Firm is representing Ingersoll Rand Inc. (NYSE: IR) in connection with the sale of its Specialty Vehicle Technologies Segment (“Club Car”) to the global private equity firm Platinum Equity in an all-cash transaction valued at $1.68 billion. The transaction is expected to be completed by the third quarter of 2021, subject to customary closing conditions.
Club Car is a leader in the design, manufacture and marketing of golf, utility and consumer low-speed vehicles for commercial utility and personal transportation. 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, Johanna Mayer and Izaak Lustgarten (M&A); Andrew Purcell and Dmitry Zelik (Tax); Tristan Brown and Ashlie Lawton (Employee Benefits); Lori Lesser, Amber Harezlak, Corina McIntyre and Samuel Watters (IP); James Cross and Matthew Farrell (Banking and Credit); Richard Fenyes (Capital Markets); Dennis Loiacono and Stephanie Brenner (Real Estate); Michael Isby and Timothy Mulvihill (Environmental); and Sara Razi and Jamie Logie (Antitrust).