Airgas Inc., an Air Liquide company, 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 U.S. This transaction will enable Airgas to further strengthen its network in the U.S. with a complementary footprint to better serve customers while generating significant efficiencies.
“Growth through acquisition has been a key component of Airgas’ business model and remains a core part of our long term strategy,” said Pascal Vinet, chief executive officer of Airgas, Inc. and executive committee member of Air Liquide. “We look forward to welcoming the Tech Air team to Airgas, and integrating their complementary capabilities and resources to enhance service for our customers.”
Founded in 1935, Tech Air is a major distributor of industrial, medical, and specialty packaged gases, welding equipment, and supplies. The company 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 US$190 million. Tech Air operates 50 locations in California, Texas, and the Northeast and Southeast of the U.S.
Airgas is the leading U.S. supplier of industrial, medical, and specialty gases, as well as hardgoods and related products, with more than over 1,400 locations. 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.