Acquisitions · Industrial gases
Taiyo Nippon Sanso's Matheson buys US gas assets from Air Liquide for $781 million
- Buyer
- Taiyo Nippon Sanso (via Matheson Tri-Gas) (Tokyo)
- Target
- US industrial gas assets divested by Air Liquide, Several US states
- Value
- $781M (as stated by seller Air Liquide)
- Status
- Agreed on June 24, 2016; completed on September 8, 2016.
- Date
- 2016-06-24
Matheson Tri-Gas, the US unit of Taiyo Nippon Sanso, bought US industrial gas assets that Air Liquide sold under a Federal Trade Commission order tied to its acquisition of Airgas. The assets include 18 air separation units at 16 sites, plus carbon dioxide, nitrous oxide and packaged gas operations. They had about $270 million of revenue in 2015.
Why it matters
The purchase enlarges Matheson's production network across the US at a time when consolidation among the largest gas suppliers forced asset sales.
Sources
Kakehashi M&A News home
