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Headquarters: Radnor, PA
2016 Revenues: N/A
2016 Acquisitions: Monroe Welding Supply, Clark Industrial Supply
Key Executives: Pascal Vinet, vice president & CEO
Airgas operates in several segments, including pipeline & bulk, packaged gases, welding hardgoods, safety PPE and other MRO.
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.