Airgas, Inc. (NYSE: ARG), Radnor, PA, No. 4 on MDM's list of the top 40 industrial distributors, has acquired Conley Gas, Ltd., a supplier of pure gases to the specialty gas industry. The La Porte, TX-based business purifies, repackages, and distributes high-purity hydrocarbons such as methane and ethylene. Conley has additional operations in Stryker, OH, has 10 full-time employees and generates annual revenues of about $9 million.
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Airgas has consolidated and integrated the Conley business into its Airgas Specialty Gases business unit. Airgas Specialty Gases operates eight national labs and supports more than 63 regional labs designed for the production of high-purity gases, gas mixtures, calibration standards and medical device gases.
"The Conley product offering is considered unique with respect to product grade and delivery method," said Bill Russo, president of Airgas Specialty Gases. "They have also built an excellent customer service model and have an outstanding reputation for safety and reliability."
In separate transactions, Airgas recently purchased two other businesses with aggregate annual revenues of $5 million, including a beverage CO2 distributor in Texas and a provider of medical gases, equipment, and certification services in the Pacific Northwest.
Since the beginning of its fiscal year in April, Airgas has completed seven acquisitions totaling $20 million in acquired annual revenues.
Find more Airgas news, including the latest on the takeover bid from Air Products, at www.mdm.com/airgas.
