Praxair, Inc. has acquired five industrial gas businesses in various regions domestic to the US and abroad.
The Danbury-based company says the combined 2015 annual sales of its latest pickups totals more than $40 million.
Financial terms were not disclosed.
In addition to three independent distributors of IG and specialty packaged gases in the US, Praxair also acquired an industrial and medical gas specialist in Panama, and an Italian producer/distributor/seller of medical gas.
The companies acquired are:
- The Welding Center (Illinois)
- Welder Services (Indiana)
- A&B Electric Motors and Supplies (Arizona)
- Geneva Industrial Gases (Panama)
- Ossigas S.r.l. (Italy)
Praxair Chairman and CEO Steve Angel commented, “These synergistic acquisitions will contribute profitable growth and reinforce Praxair’s integrated business model.”
“Through prudent capital allocation, we continue to deliver on our strategy of capitalizing on acquisition opportunities in our core geographies while also expanding our exposure to more resilient end-markets, like healthcare.”
Continued M&A activity
Last month, Praxair acquired NOxBOX, and in the early part of 2016, the company undertook a shakeup in its Southeast distribution region, continuing a thread of mergers and acquisitions that has seen it stand among the biggest gas companies in the world.