Airgas Announces Acquisition of Weldinghouse, Inc. and the Nitrogen Services Business of Priority Energy Services
July 21 2015 - 4:30PM
Business Wire
Airgas, Inc. (NYSE: ARG), one of the nation’s leading suppliers
of industrial, medical, and specialty gases, and related products,
today announced that it has recently acquired the assets and
operations of Weldinghouse, Inc. and its affiliates, effective July
17, 2015, and Priority Energy Services, LLC, effective July 20,
2015. Financial terms of the transactions were not disclosed. The
Company has now completed nine acquisitions since beginning its
2016 fiscal year on April 1, 2015, totaling approximately $74
million in aggregate acquired revenue.
Weldinghouse is an industrial gas and welding supply distributor
that generated more than $19 million in sales in calendar year
2014. Headquartered in Corpus Christi, Texas, Weldinghouse has four
locations throughout southern Texas and nearly 40 associates.
“The addition of Weldinghouse’s associates and locations into
Airgas via our Gulf Coast Region will enhance and strengthen our
position in this important market,” said Jason Favre, Airgas
President – Gulf Coast Region. “We look forward to continuing to
provide Weldinghouse’s customers with the exemplary service and
products they have come to expect and are proud to welcome
Weldinghouse’s associates into the Airgas family.”
“Weldinghouse has developed a great deal of respect for the way
Airgas conducts business and the value they bring to the gas and
welding industries,” said Gary Gray, Vice President of
Weldinghouse. “Additionally, Airgas is focused on meeting the needs
of our employees and customers. As Weldinghouse joins Airgas, our
customers will reap great benefits and the South Texas welding
industry will be strengthened.”
Headquartered in Covington, Louisiana, Priority Energy Services
is a nitrogen services company with approximately 75 employees
operating out of seven locations in Louisiana, Texas, and West
Virginia. Priority Energy Services generated more than $21 million
in sales in calendar year 2014.
“We look forward to welcoming Priority Energy Services’
associates and customers into the Airgas family,” said Tom Thoman,
Airgas Division President – Gases. “With this acquisition, Airgas
will now offer nitrogen services and solutions to process
industries for purging and pipeline applications to optimize plant
and pipeline operations, further enhancing the quality and breadth
of Airgas’ service and product offerings for our customers.”
The acquired business will be integrated into Airgas as a newly
formed business unit named Airgas Priority Nitrogen, LLC.
“It’s an exciting time for Priority Energy as our nitrogen
services group joins Airgas,” said Chris Abide, President of
Priority Energy Services, who will now lead nitrogen services at
Airgas. “We feel that Airgas’ culture and values are an excellent
match for our associates and customers and look forward to a bright
future and successful partnership with Airgas.”
About Airgas, Inc.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is one of
the nation’s leading suppliers of industrial, medical and specialty
gases, and hardgoods, such as welding equipment and related
products. Airgas is a leading U.S. producer of atmospheric gases
with 16 air separation plants, a leading producer of carbon
dioxide, dry ice, and nitrous oxide, one of the largest U.S.
suppliers of safety products, and a leading U.S. supplier of
refrigerants, ammonia products, and process chemicals.
Approximately 17,000 associates work in more than 1,100 locations,
including branches, retail stores, gas fill plants, specialty gas
labs, production facilities and distribution centers. Airgas also
markets its products and services through e-Business, catalog and
telesales channels. Its national scale and strong local presence
offer a competitive edge to its diversified customer base. For more
information, please visit www.airgas.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150721006215/en/
Airgas, Inc.Investor Contact:Joseph
Marczely, 610-263-8277joseph.marczely@airgas.comorMedia Contact:Sarah Boxler,
610-263-8260sarah.boxler@airgas.com
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