Ingersoll Rand (IR) is one of the leaders in global manufacturing of industrial equipment including mining and drilling machinery, power tools, and manual and electric chains hoists. Simon Ingersoll founded its predecessor, Ingersoll Rock Drill Company, in 1871. The company later took the name Ingersoll-Sergeant Drill Company before it merged with Rand Drill Company in 1905, resulting in the company known today as Ingersoll Rand.