Airgas, an Air Liquide Company, to Acquire Tech Air
06 Février 2019 - 5:45PM
Business Wire
Regulatory News:
Air Liquide (Paris:AI) announces that Airgas has signed a
definitive agreement to acquire 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, which is subject to approval by U.S. antitrust
authorities, will enable Airgas to further strengthen its network
in the United States with a complementary footprint to better serve
customers while generating significant efficiencies.
Founded in 1935, Tech Air is a major distributor of industrial,
medical and specialty packaged gases, welding equipment, and
supplies. Tech Air is owned by CI Capital Partners, a New
York-based private equity firm, and Tech Air management. 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.
With this acquisition, Airgas will continue to further
strengthen its distribution network, enabling more proximity to
local customers. Leveraging Air Liquide’s integrated model, the
acquisition is expected to 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.
Subject to the approval of U.S. antitrust authorities, the
transaction is expected to close in 2019.
Pascal Vinet, Chief Executive Officer of Airgas, Inc. and Air
Liquide Executive Committee Member, commented: “Growth through
acquisition has been a key component of Airgas’ business model and
remains a core part of our long term strategy. We look forward to
welcoming the Tech Air team to Airgas, and integrating their
complementary capabilities and resources to enhance service for our
customers."
Airgas
Airgas, 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
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 80 countries with
approximately 65,000 employees and serves more than 3.5 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 20.3 billion euros in 2017 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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RelationsParis - France+33 (0)1 40 62 50 87Philadelphia - USA+1
610 263 8277
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