Arrangement of Financing for Gardner Denver’s Combination with Ingersoll Rand’s Industrial Segment

Cravath represented Citibank, N.A., as administrative agent, collateral agent and lead arranger, in connection with the arrangement of a $1.0 billion revolving credit facility, a $928 million term loan facility and a €601 million term loan facility made available to Gardner Denver, Inc. and a $1.9 billion term loan facility made available to Ingersoll‑Rand Services Company. The financing was arranged in connection with the combination of Gardner Denver and the Industrial Segment of Ingersoll Rand to form Ingersoll Rand Inc., a global leader in mission‑critical flow creation and industrial technologies. The transaction closed on February 28, 2020.

The Cravath team included partner Stephen M. Kessing, senior attorney Kimberly A. Grousset and associates Megan E. Fitzgerald and Robin M. Gimm on banking matters, associate Leon B. Dalezman on tax matters, and associate Dixing Tang on executive compensation and benefits matters.