Airgas, Inc. has finalised the acquisition of Pain Enterprises, Inc – A producer and distributor of dry ice and carbon dioxide throughout Midwestern US.
The Bloomington, IN based business serves a wide range of customers and operates from 20 locations, generating annual revenues of about $33m in 2010.
Phil Filer, President of Airgas Carbonic and Airgas Dry Ice explained the benefits of this latest acquisition, “Acquiring Pain Enterprises significantly expands our dry ice and liquid CO2 business throughout the Midwest.$quot;
Filer continued, $quot;We see increased opportunities for expanding our Penguin Dry Ice brand into new geographies and more retail locations, additional growth for liquid CO2 and dry ice within Airgas’ national accounts business, increased support with more reliable sourcing of CO2 for our Airgas National Carbonation and Airgas regional company beverage carbonation business, and the immediate expansion of Airgas Carbonic production capabilities.”
Airgas has integrated the Pain business into its Airgas Carbonic and Airgas Dry Ice operations. Included in the integration are bulk liquid carbon dioxide and dry ice manufacturing plants in Hopkinsville, Kentucky, and Riga, Missouri, a dry ice manufacturing plant in Muscatine, Iowa, and 17 bulk liquid carbon dioxide and dry ice distribution depots in Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Missouri, Nebraska, Ohio, and Wisconsin.
Filer concluded by remarking on the move, “Pain Enterprises has a proven history of serving their customers. Our combined resources will now provide our expanded customer base with an even more robust offering of product and service solutions.”