When Gardner Denver completed its initial public offering in May 2017, it granted deferred stock units to substantially all permanent employees. The merger transaction was completed on February 29, 2020. jointly announced an agreement through which Ingersoll Rand's Industrial segment would be spun-off and merged with Gardner Denver in a Reverse Morris Trust transaction. In April 2019, Ingersoll-Rand Plc and Gardner Denver Holdings, Inc. Merger of Ingersoll Rand's Industrial Segment and Gardner Denver Gardner Denver returned to public ownership in 2017 through an initial public offering. traded on the New York Stock Exchange until it was acquired by private equity firm Kohlberg Kravis Roberts & Co. Cooper spun-off the Gardner Denver Industrial Machinery Division as an independent company in 1994. In 1979, Gardner Denver was acquired by Cooper Industries, Inc. The Company underwent several transformations in the late 1900s and early 2000s. ![]() In 1943, Gardner Denver was listed on the New York Stock Exchange for the first time. Gardener Denver grew during the early decades of the 1900s and transformed through acquisitions. The Gardner Governor Company merged with the Denver Rock Drill Company in1927 to form Gardner-Denver. By the turn of the century, the company sold more than 150,000 governors across the United States and Canada. This innovation, known as the flyball governor, helped pave the way to later production of other industrial products such as air compressors. Robert Gardner founded the Gardner Governor Company in 1859 in Quincy, Illinois and introduced the first effective speed controls for steam engines. In the 1920s, Ingersoll Rand supplied diesel engines for locomotives built by both General Electric and ALCO. In 1905, Ingersoll-Sergeant Drill Company merged with the Rand Drill Company to form Ingersoll Rand. Rand drills cleared New York's treacherous Hell Gate channel and were used in the construction of water aqueducts for New York City and Washington, D.C., and tunnels in Haverstraw and West Point, New York, and in Weehawken, New Jersey. established Rand Drill Company with its main manufacturing plant in Tarrytown, New York. The Ingersoll Sergeant Drill Company introduced the world's first direct-connected, electronic motor-driven compressor.Īlso in 1871, brothers Addison Rand and Jasper Rand, Jr. S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence.Simon Ingersoll founded Ingersoll Rock Drill Company in 1871 in New York, and in 1888, it combined with Sergeant Drill to form Ingersoll Sergeant Drill Company. ![]() Since Charles Dow invented the first index in 1884, S&P DJI has become home to over 1,000,000 indices across the spectrum of asset classes that have helped define the way investors measure and trade the markets. More assets are invested in products based on our indices than products based on indices from any other provider in the world. S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500 ® and the Dow Jones Industrial Average ®. Headquartered in Denver, CO, the company will be added to the S&P MidCap 400 GICS Oil & Gas Exploration & Production Sub-Industry index.įor more information about S&P Dow Jones Indices, please visit ABOUT S&P DOW JONES INDICES Headquartered in Milwaukee, WI, the company will be added to the S&P 500 GICS Industrial Machinery Sub-Industry index.Ĭimarex Energy operates as an independent oil and gas exploration and production company. Gardner Denver provides mission-critical flow control and compression equipment and associated aftermarket parts, consumables, and services. Chesapeake Energy is ranked near the bottom of the S&P MidCap 400 and is no longer representative of the mid-cap market space. Cimarex Energy has a market capitalization more representative of the mid-cap market space. Immediately following its merger with the industrial segment business, Gardner Denver will have a name and ticker change to "new" Ingersoll Rand Inc. Post-spin-off, the "old" Ingersoll-Rand will change its name and ticker to Trane Technologies plc (NYSE: TT), and Trane will remain in the S&P 500 with a Global Industry Classification Standard (GICS) change to Building Products Sub-Industry classification. S&P 500 constituent Ingersoll-Rand plc (NYSE: IR) is spinning off its industrial segment business which will be merged with Gardner Denver Holdings. (NYSE: CHK) in the S&P MidCap 400 effective prior to the open of trading on Tuesday, March 3. (NYSE : XEC) in the S&P 500, and Cimarex Energy will replace Chesapeake Energy Corp. (NYSE: GDI) will replace Cimarex Energy Co. 27, 2020 /PRNewswire/ - Gardner Denver Holdings Inc.
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