Japan’s Air Water Inc. has announced the acquisition of US carbon dioxide (CO2) equipment manufacturer TOMCO2 Systems Company.
The deal marks the latest step in Air Water’s overseas expansion strategy, while also representing another piece of M&A activity in the CO2 business and related markets.
No financial details were disclosed.
Industry veteran Eric Rottier will assume the role of CEO for Loganville, Georgia-based TOMCO2 while also maintaining his current role as CEO & Chairman of Taylor-Wharton. Roland Wright will serve as COO for both organisations.
Taylor-Wharton Malaysia Sdn. Bhd itself became an Air Water company in February 2016.
Rottier explained, “We have a mandate to grow all aspects of Air Water’s Engineering Group’s product offerings in North America, which encompasses a full range of cryogenic equipment, and acquiring TOMCO2 is a significant first step that establishes a solid manufacturing and sales base in the US.”
Self-change and diversification
This deal marks the latest step in Air Water’s overseas expansion strategy, while also representing another piece of M&A activity in the CO2 business and related markets – a hive of activity in recent years.
Like many of its Japanese counterparts, Air Water has been on a path of diversification for the last decade or more.
Indeed, when I interviewed Air Water back in 2009, the company was mindful of its need to branch out. There was also a single-minded determination to remain current; to remain a leader.
Continue reading Self-change and diversification
TOMCO2 will continue to operate under the TOMCO2 brand in its Loganville facility and will be led by Luke Bradshaw, a statement added, who transitions from his current role as Vice-President of Business Development for Taylor-Wharton to take the role of President at TOMCO2.
Bradshaw stated, “From the beginning, one aspect of TOMCO2’s value stood out in particular – the quality of people. Having a team with unparalleled experience, focused expertise on end-user applications, and an ongoing drive to exceed customer expectations provides a unique platform to expand our efforts to transform to an applications-focused solutions provider rather than a traditional equipment manufacturer.”
TOMCO2 Systems has been delivering trusted CO2 solutions since 1970, and long-time TOMCO2 Executive Dan Templeton concluded, “On behalf of The TOMCO2 family, we look forward to the opportunity of merging into a new and dynamic organisation. TOMCO2 has a great group of employees who proudly represent the best in quality and service, making it a brand name that is known throughout the CO2 industry.”
“The future looks bright with the new ownership to advance our product lines and capabilities.”
About Air Water, Inc.
Established in 1929, Air Water’s operations are based on industrial and medical gas applications.
Air Water has expanded its business to a great variety of fields, including chemicals, medical treatment, energy, agriculture, food products and more and, like many of its Japanese counterparts, has been on something of a diversification strategy in recent years both geographic and product-based in nature.
Masahiro Toyoda holds the role of CEO and Chairman of the Board.