Ingersoll Rand Divests Asbestos Liabilities to Delticus

Ingersoll Rand (IR) just unveiled an update.

Ingersoll Rand has offloaded its historical asbestos liabilities by selling related subsidiaries to Delticus, a company adept at managing such long-term corporate responsibilities. This strategic move, executed with a $188.5 million capital infusion, removes the liabilities from Ingersoll Rand’s future balance sheets and allows it to focus on growing its market reach. The transaction also provides investors with more financial stability, as confirmed by independent solvency assessments and the expert counsel of Evercore and Simpson Thacher & Bartlett LLP.

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