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Airgas & Air Liquide Completes the Acquisition of Tech Air

Source: www.gulfoilandgas.com 3/19/2019, Location: Europe

Air Liquide 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 dollars. 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.”

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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