Airgas, an Air Liquide Company, Completes the Acquisition of Tech Air
19 Mars 2019 - 5:45PM
Business Wire
Regulatory News:
Air Liquide (Paris:AI) announces that Airgas has completed
the acquisition of TA Corporate Holdings, Inc. (“Tech Air”), a
large independent distributor of industrial gases and welding
supplies serving various geographies in the United States. This
transaction enables Airgas to further strengthen its network in the
United States with a complementary footprint to better serve
customers while generating significant efficiencies.
With the completion of this acquisition announced on February 6
of this year, Airgas will further strengthen its distribution
network, enabling more proximity to local customers. Leveraging Air
Liquide’s integrated model, the acquisition will deliver
significant efficiencies. Moreover, customers will benefit from an
expanded offering as well as a wider distribution network and a
leading digital platform. Over the years, Airgas has successfully
acquired and integrated companies’ operations and associates to
create an industry-leading distribution network in the U.S. serving
a variety of customers safely and reliably.
Founded in 1935, Tech Air is a major distributor of industrial,
medical and specialty packaged gases, welding equipment, and
supplies. Serving more than 45,000 customers, the company,
comprises approximately 550 employees and has annual revenues
of approximately 190 million US dollars1. Tech Air operates
50 locations in California, Texas, the Northeast and
Southeast. Airgas acquired Tech Air from CI Capital Partners, a New
York-based private equity firm, and Tech Air management.
Pascal Vinet, Chief Executive Officer of Airgas, Inc. and Air
Liquide Executive Committee Member, commented: “The completion
of the acquisition of Tech Air is an important milestone in Airgas'
development. Tech Air’s highly professional teams and complementary
distribution network will be strong assets to efficiently serve our
customers. We welcome our new Tech Air colleagues to Airgas and the
Air Liquide family and now begin the integration process.”
AirgasAirgas, an Air Liquide
company, is the leading U.S. supplier of industrial, medical and
specialty gases, as well as hardgoods and related products; one of
the largest U.S. suppliers of safety products; and a leading U.S.
supplier of ammonia products and process chemicals.Dedicated to
improving the performance of its more than 1 million customers,
Airgas safely and reliably provides products, services and
expertise through its more than 18,000 associates, over 1,400
locations, robust e-Business platform, and Airgas Total Access®
telesales channel. As an Air Liquide company, a world leader in
gases, technology and services for Industry and Health, Airgas
offers customers an unrivaled global footprint and industry leading
technology and innovations.For more information: www.airgas.com
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A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 80 countries with
approximately 66,000 employees and serves more than 3.6 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide’s scientific territory and have been at the core of the
company’s activities since its creation in 1902.
Air Liquide’s ambition is to be a leader in its industry,
deliver long term performance and contribute to sustainability. The
company’s customer-centric transformation strategy aims at
profitable growth over the long term. It relies on operational
excellence, selective investments, open innovation and a network
organization implemented by the Group worldwide. Through the
commitment and inventiveness of its people, Air Liquide leverages
energy and environment transition, changes in healthcare and
digitization, and delivers greater value to all its
stakeholders.
Air Liquide’s revenue amounted to 21 billion euros in 2018 and
its solutions that protect life and the environment represented
more than 40% of sales. Air Liquide is listed on the Euronext Paris
stock exchange (compartment A) and belongs to the CAC 40, EURO
STOXX 50 and FTSE4Good indexes.
1 Estimated pro forma for recent acquisitions
www.airliquide.comFollow us on Twitter
@airliquidegroup
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Corporate CommunicationsMedia@airliquide.com+33 (0)1 40
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Airgas CommunicationsKim Menard+1 610 902
6233kimberly.menard@airgas.com
Investor RelationsParis - France+33 (0)1 40 62 50 87
Philadelphia - USA+1 610 263 8277
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