David Fritz has arranged the acquisition with Northeast Services Inc. (NES) within two months of his new role as CEO. What does this acquisition mean for Fritz, and what do Acme and NES have planned for the future?
Acme Cryogenics, North America’s leading manufacturer of cryogenic gas equipment and systems, appointed industrial gas veteran David Fritz as its new President and CEO back in August.
Within a couple of months Acme announced the acquisition of NES, a specialist in providing cryogenic and industrial and gas field services to industrial gas companies.
Arranging a deal of this size must have been quite a task for the newly appointed CEO.
Fritz affirmed, “it’s been a very busy first few months for me personally, with a lot of focus on better understanding our customer’s needs and how the Acme Team can improve products and service offerings in support of our customer’s supply chain needs.”
“The NES acquisition aligns very well with these efforts. NES adds another very strong brand in gas systems and field services to the Acme family.”
With both firms obtaining locations in North America, and sharing existing customer bases, it is evident that the companies are compatible and that their combined capabilities can be expanded.
“The NES acquisition fits very well into our team and improves Acme’s ability to service customers in the North Jersey and metropolitan NYC area. Additionally, NES has a strong presence in Florida and the greater southeast.”
“Acme’s future focus is to use the added geographic footprint NES brings to provide additional field service offerings and gas systems products into the broader market place. This will be a significant positive for the existing and future customers of our combined company.”