By JJ Koczan2016-01-04T16:08:00+00:00
Praxair Distribution, Inc. (PDI), a subsidiary of Praxair, Inc., announced its two joint venture companies operating in the Southeastern US have merged. Financial terms of the transaction were not disclosed.
The transaction involves merging Praxair Distribution Southeast, LLC (PDSE), a PDI joint venture operating in Florida and southeast Georgia since 1997, into Memphis, Tennessee-based nexAir, LLC (nexAir), a 75-year old company which entered into a joint venture with PDI in 2012, with locations in Alabama, Arkansas, Georgia, Louisiana, Mississippi, and Tennessee. nexAir will grow to have annual sales of more than $200 million and 67 locations with the merger, adding coverage throughout the state of Florida. Its existing senior management team will continue to lead the combined business.
“Both the PDSE and nexAir businesses have been very successful partnerships for PDI in the southeast and it makes sense to now combine them. It will allow us to streamline and simplify our management processes and improve customer focus and clarity around PDI’s channel strategy. Together we will provide a stronger network of services and capabilities throughout the region,” said Scott Kaltrider, president Praxair Distribution, Inc.
Taken over any period, a company’s progress can be clunky and haphazard, it can falter altogether, or it can move forward in a coherent pattern of progress with well-strategized movements and a vision of what it wants to be in the future.
Memphis-based nexAir has announced the acquisition of the assets and operations of National Balloon & Banner, trading as HICO of Jackson, a 28 year-old helium distributor in Jackson, Mississippi.
Following up on a recent increase in CO2 price, Praxair announces price increases for nitrogen, oxygen, argon, hydrogen and helium, as well as a general facility fee increase, effective Jan. 1.
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