A-Gas International completes strategic acquisition of independent US refrigerants supplier and distributor Coolgas.
Bristol-based A-Gas International has completed the acquisition of Houston, Texas based Coolgas Inc, an independent supplier and distributor of refrigerants to the US market.
The terms of the transaction were not disclosed.
The transaction represents the fifth strategic acquisition completed by A-Gas so far in 2012, and forms part of the Group’s acquisitive growth strategy which is being executed both in the UK and internationally.
The enlarged group will have a turnover of c. £130m and 237 employees.
Coolgas has recently commissioned a new refrigerant storage and packaging facility in Houston and has distribution centres in California, Utah, Arizona, Indiana, Michigan, Maryland and Georgia ensuring that Coolgas is close to its customers wherever they are located.
The acquisition builds on A-Gas’ acquisition of Ohio based refrigerant reclaimer and halocarbon management specialist RemTec International in July 2012. Coolgas provides a strong strategic fit, bringing a strong brand and complementary footprint that will accelerate refrigerants sales growth. Further the reclaim and carbon credits businesses extend A-Gas’ existing operations in the US Environmental Services market which is already well established in the UK and Europe.
The acquisition of Coolgas follows on from the successful acquisitions not only of RemTec International in July 2012 but also of Australian based Technochem in March 2012 and SA Rural in May 2012, and UK based A-Zone Technologies in April 2012.
John Rutley, Executive Chairman and founder of A-Gas International said: “Jesse Combs and his management team have built a great business in the US refrigerant sector and we are delighted to add it to our rapidly expanding presence in this important market.”
“The fit with our recently acquired business, RemTec, is perfect and allows us to offer a full range of products and services to our customers in the world’s largest refrigerant market.”