Ingersoll Rand Inc. executed the sale of its Specialty Vehicle Technologies Segment (“Club Car”) to the global private equity firm Platinum Equity in an all-cash transaction valued at $1.68 billion. The transaction is expected to be completed by the third quarter of 2021, subject to customary closing conditions.

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $23 billion ofassets under management and a portfolio of approximately 40 operating companies that serve customers aroundthe world.

Club Car is a leader in the design, manufacture and marketing of golf, utility and consumer low-speed vehicles for commercial utility and personal transportation.

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Source: Global Legal Chronicle

By Martina Bellini