From legacy industrial to modern compounder
In 2020, the merger of Gardner Denver Holdings and the industrial segment of Ingersoll Rand marked more than a portfolio consolidation—it established the blueprint for a modern industrial platform. From the outset, the newly formed Ingersoll Rand had a clear mandate: integrate deeply, operate with discipline, and unlock value beyond the sum of its parts.
In the years since, that strategy has translated into measurable results. The 165-year-old enterprise, which serves as a global provider of mission-critical flow creation and industrial technologies and is best known for manufacturing air compressors, vacuum pumps, blowers, and fluid management systems, has sharpened its emphasis on operational excellence, margin expansion, and sustainable growth. This progress is evident in its targeted expansion into high-growth verticals, such as life sciences and clean energy, alongside a 40% increase in recurring revenue over the past year, which exceeded $450 million in 2025. Impressively, the company has grown enterprise value by more than ninefold since 2017—a feat accelerated by the merger.
“The merger in 2020 was the starting point, but what we have built since is what matters,” says Vicente Reynal, chairman and CEO of Ingersoll Rand. “We have proven that a 165-year-old company can operate like a modern compounder. Our culture, paired with disciplined execution, and strategy, drives everything we do.”
Underpinning this progress is a culture of ownership in which employees are encouraged to think and act like owners by identifying daily operational improvements and waste reduction opportunities that benefit both their experiences and the company’s margins. This mindset is reinforced through its Ownership Works program, which grants equity to employees after one year of service, aligning incentives with long-term value creation. In 2025 alone, equity was granted to more than 3,600 employees, with the program now valued at approximately $1 billion based on the company’s stock price as of March 31, 2026.
Complementing this cultural foundation is a set of proven, repeatable operating engines—Ingersoll Rand Execution Excellence and Demand Generation Excellence—that standardize how the company runs and grows while maintaining flexibility and scale. Through weekly impact management processes and 100-day sprints, these systems help surface issues quickly and drive transparent, accountable action.
Alongside operational discipline, mergers and acquisitions have emerged as a primary growth lever. Since 2020, the company has completed more than 75 acquisitions, primarily focused on family-owned, high-margin businesses that integrate efficiently into its global channels. At the same time, Ingersoll Rand continues to prioritize sustainability, ranking in the top 5% of the S&P Global Corporate Sustainability Assessment, earning an “A List” rating from the Carbon Disclosure Project for climate action, and investing in technologies that help customers reduce energy use and emissions.
Taken together, these elements reinforce a consistent throughline. “The world does not stand still, and neither do we,” says Reynal. “With a long runway ahead, we have the right foundation—our people, our purpose, and our operating system—to keep compounding for years to come.”