Airgas Announces Acquisition of Weldinghouse, Inc. and the Nitrogen Services Business of Priority Energy Services
By Business Wire News
By Business Wire News
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.