Air Liquide 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 will enable Airgas to further strengthen its network in the U.S. 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. 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.
“Growth through acquisition has been a key component of Airgas’ business model and remains a core part of our long term strategy," says Pascal Vinet, CEO of Airgas, Inc. and Air Liquide executive committee member. "We look forward to welcoming the Tech Air team to Airgas, and integrating their complementary capabilities and resources to enhance service for our customers."
