USA: Refrigerant supply and management company Hudson Technologies has completed its acquisition of Airgas Refrigerants (ARI), a subsidiary of industrial gas supplier Airgas Inc.
The deal for ARI, a leading refrigerant distributor and EPA certified US reclaimer, was confirmed at approximately $220m. The acquisition was financed with cash and borrowings of $185m.
The acquisition, which was first announced in August, was described by Hudson chairman and CEO Kevin J Zugibe as a milestone in the company’s history. “The addition of ARI significantly strengthens our leadership position in the refrigerant and reclamation industry by enhancing our product offerings, increasing our geographic reach and customer base and enhancing our sales and distribution capabilities,” he said.
“This strategic combination considerably increases the scale of our company which will allow us to better serve our customers during the ongoing phase out of HCFC refrigerants and as the industry continues its transition to next generation HFC refrigerants, which have also been identified for future phase down.”
