Ingersoll Rand divests all legacy asbestos liabilities to Delticus; capitalized with $188.5M

Ingersoll Rand Inc.

Sold subsidiaries holding legacy asbestos liabilities and related insurance assets to Delticus, a platform owned by Third Point LLC affiliates.
Divested entities capitalized with $188.5M total: $143.5M from insurance proceeds, $35M from Delticus, $10M from Ingersoll Rand.
No asbestos liabilities or related insurance assets will appear on Ingersoll Rand's year-end 2024 consolidated balance sheet.
Independent solvency opinion received from advisory firm; Delticus assumes management of claims and insurance reimbursements.
Evercore and Simpson Thacher advised Ingersoll Rand; PJT Partners and King & Spalding advised Delticus.

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