Ingersoll Rand Inc Acquisition of ILC Dover - M&A Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Christopher M. Snyder - UBS Investment Bank, Research Division - Analyst : I wanted to follow up on those questions about top line. So the business has been doing about mid-teens the last 3 years. Now this is going to accelerate to 20% in 2024. I guess what's the driver of that? Because it sounds like there are no revenue synergies baked in. And then, I guess, kind of in that same vein, longer term, is there any way to think about the revenue synergies above that high single-digit longer-term organic framework? Just because it does sound like revenue synergies were a big motivating factor for the deal.

Question: Christopher M. Snyder - UBS Investment Bank, Research Division - Analyst : Yes. Just on the revenue synergy potential because it sounds like that's not in that longer-term high single-digit forecast.

Question: Christopher M. Snyder - UBS Investment Bank, Research Division - Analyst : I appreciate that. And then maybe just following up. The life science platform now has a $700 million revenue base. How do you feel about the scale in that business? Is there any sort of target level that you would like to see Life Science get to from just a size perspective.

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : I guess just a follow-up on revenue synergies. Do you have kind of what you need to attach these markets here? Are they clear paths to adding product capabilities inorganically or opportunities to invest organically to create some of those -- some of those opportunities to accelerate their revenue seeing the funnel?

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : And so we'll hear more about that as we go along. And just a quick follow-up. What's the -- what are the metrics that need to be reached for the earnout to be paid out?