By Rhea Healy2016-06-17T11:05:00+01:00
In a first since becoming a member of Air Liquide’s corporation, Airgas Inc. has made its first acquisitions, procuring two US-based gas and welding distributing companies.
The company has attained the assets and operations of both Louisiana-based, Monroe Welding Supply, Inc. and Californian company, Clark Industrial Supply, Inc. Both companies generated combines sales revenue of $16.6m in 2015.
As part of the transaction, Monroe’s 32 associates will join the Airgas Mid-South Region and Clark’s seven associates will join the Airgas Northern California and Nevada (NCN) Region.
Airgas remains committed to continuing to pursue acquisition opportunities in key markets to help realise the full potential of the newly combined company
Both effective from 1st June, these are Airgas’ first acquisitions since the Air Liquide takeover, bringing the industrial gas company’s takeover total to 22 in the past year.
Andrew Cichocki, Chief Operating Officer of Airgas, reinforced, “Growth through acquisition has always been a core strategy and competency for Airgas, as evidenced in the nearly 500 acquisitions we’ve completed since our inception in 1982. Now, as part of Air Liquide, Airgas remains committed to continuing to pursue acquisition opportunities in key markets to help realise the full potential of the newly combined company.”
So the ink is finally dry on the biggest deal in the industrial gases business in years, with the key signatures committed to contracts and glasses raised across both sides of the Atlantic. It’s official: Air Liquide has acquired Airgas, at a total enterprise value of $13.4bn.
In an exclusive interview with gasworld, Air Liquide Executive Committee member Michael J. Graff describes the value creation ahead following the company’s acquisition of Airgas, and the significant progress in integration expected in the coming months.
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