IR grabs Geith

Ingersoll Rand has agreed to buy Ireland-based construction equipment attachments manufacturer Geith International from its present owners, made up of management shareholders and two venture capital funds managed by the Bank of Scotland (Ireland) Ltd. Geith was founded in 1950, is based in Slane, Ireland, and generated annual revenues of € 42 million (US$ 54 million) in the last financial year. Currently it employs 290 personnel.