CHICAGO--(BUSINESS WIRE)--Oct. 8, 2024-- D.A. Davidson announced today that it served as exclusive financial advisor to Air Power Systems Co. (“APSCO”), an industry-leading provider of hydraulic and pneumatic engineered products and solutions, in its sale to Ingersoll Rand (NYSE:IR), a global provider of flow creation and compression technologies. APSCO is a portfolio company of TGP Investments (“TGP”).

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D.A. Davidson announced today that it served as exclusive financial advisor to Air Power Systems Co., an industry-leading provider of hydraulic and pneumatic engineered products and solutions, in its sale to Ingersoll Rand, a global provider of flow creation and compression technologies. (Graphic: Business Wire)

Founded in 1964, APSCO provides customized hydraulic and pneumatic products and systems for medium and heavy-duty work truck and transportation applications. Building on its 60+ years of industry experience, APSCO offers unparalleled engineering expertise, product customization, and customer service.

“APSCO has done a tremendous job leveraging its leading position in pneumatics to substantially expand in hydraulics with a strong reputation for excellence,” stated Eric Stetler, Managing Director and Head of M&A at D.A. Davidson. “We believe Ingersoll Rand will be an excellent partner and are excited to see what their combined future brings.”

Alongside the acquisitions of Blutek and UT Pumps & Systems, Ingersoll Rand’s purchase of APSCO aligns with the Company’s commitment to invest in sustainability, innovation, and aftermarket, all of which are core areas of the Company's growth strategy.

"The APSCO team can be proud of our ongoing success," stated Vince Williams, CEO of APSCO. “We are committed to providing high quality products and exceptional service to our customers, and are thrilled to join the Ingersoll Rand family and continue our momentum.”

“D.A. Davidson did an exceptional job from start to finish during the sale process,” said Shane Parr, Managing Director at TGP Investments. “Their deep relationships and industry expertise helped ensure a fantastic result and we know APSCO is in good hands for its next phase of growth.”

The transaction represents another successful closing by D.A. Davidson’s Diversified Industrials Investment Banking Group and highlights the ongoing momentum of the firm’s Machinery & Equipment practice.

D.A. Davidson’s Investment Banking Division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle market clients worldwide across four industry verticals: consumer, diversified industrials, financial institutions, and technology.

About D.A. Davidson

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions, and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana and regional headquarters in Denver, Los Angeles, New York, Omaha, and Seattle, the company has approximately 1,600 employees and offices in 30 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment advisor providing fixed income portfolio and advisory services.

For more information, visit dadavidson.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241008216056/en/

Deal Team Contacts
Eric Stetler, Managing Director & Head of M&A | estetler@dadco.com
Dylan Fodel, Vice President | dfodel@dadco.com
Tayler Pettit, Associate | taylerpettit@dadco.com

Media Contact:
Emily Roy
Prosek for D.A. Davidson
(646) 818-9232
eroy@prosek.com

Source: D.A. Davidson