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Headquarters: Radnor, PA
2016 Revenues: $7 billion
Change in Sales from 2015: 31.9%
Key Executives: Michael L. Molinini, president & CEO; Robert M. McLaughlin, senior vice president & CFO
In 2016, Air Liquide closed its $10.3 billion acquisition of Radnor, PA-based Airgas, marking a major entry into the U.S. market for the France-based gases company. Prior to the acquisition, Air Liquide had minimal exposure in the U.S. And to satisfy anti-trust conditions of the acquisition, Air Liquide sold many of those U.S. assets to Matheson Tri-Gas Inc.
A notable side effect of the acquisition: the historically acquisitive Airgas made far fewer deals in the second half of the year – a trend that did not go unnoticed by respondents to the first-quarter MDM-Baird Distribution Survey. Whether activity remains muted going forward, however, remains to be seen.