Ingersoll-Rand plc has entered into an agreement to acquire FRIGOBLOCK for €100m.

The acquisition is expected to be completed during the first half of 2015, subject to regulatory approval.

FRIGOBLOCK manufactures and designs transport refrigeration units for trucks and trailers in Europe, primarily sold in Northern Europe. It operates in Essen, Germany, has annual revenue of approximately €41m and employs around 150 staff.   

Once the acquisition is complete Ingersoll Rand will welcome the FRIGOBLOCK brand into its family of brands and will become part of the Transport Solutions business, which goes to market as Thermo King and is consolidated within the company’s climate segment. 

The FRIGOBLOCK facility will become a global competence centre for electrical and environmentally sustainable systems for transport refrigeration at Ingersoll Rand. The acquisition will add to Thermo King’s strength in delivering safe, reliable and efficient transport temperature control systems for a variety of mobile applications.  

Ray Pittard, president, Transport Solutions at Ingersoll Rand said: “FRIGOBLOCK utilizes innovative technology to deliver products with low fuel consumption and reduced noise which decreases environmental impact and creates differentiation in the market. FRIGOBLOCK products are known for reliability and built with high quality

“This opportunity will allow us to offer customers in Europe and globally through our strong channels FRIGOBLOCK hybrid and non-diesel technologies.”