The on-site gas generation sector has witnessed a shake up as NOVAIR, a leading small plant specialist based in France, has announced its acquisition of Italian generator manufacturer NOXERIOR, previously known as IGS-Italia.
Under this new business addition, the French corporation has expanded its existing portfolio of pressure swing adsorption (PSA) oxygen (O2) and nitrogen (N2) generators with the inclusion of Noxerior’s hollow-fiber membrane and modular PSA technologies.
This acquisition reinforces Novair’s market-leading position in the field of on-site gas systems and creates a strong pool of research and development (R&D) resources to maintain its technological advances.
Bernard Zenou, President of NOVAIR, enthused, “We are very pleased to have successfully closed our acquisition of NOXERIOR. We are highly complementary businesses and already share common values of superior quality, continuous innovation and tailor-made technology.”
Zenou continued to explain that the NOVAIR group gains 35 years of experience in on-site N2 production and “significantly strengthens its industrial division” via this new acquisition, as well as gaining added competencies in complex engineering procurement construction (EPC) projects.
As agreed between the parties, Oscar de Groen, the former owner and current Managing Director of NOXERIOR, will remain for a short transition period but will leave the company at the end of 2016. Financial details of the deal were not disclosed.