Airgas, Inc. (NYSE: ARG), one of the nation’s leading suppliers of industrial, medical, and specialty gases, and related products, today announced that it has reached a definitive agreement to acquire the assets and operations of The Encompass Gas Group, Inc., headquartered in Rockford, Illinois. With eleven locations and more than 130 employees in Illinois, Wisconsin, and Iowa, Encompass is one of the largest privately-owned suppliers of industrial, medical, and specialty gases and related hardgoods in the U.S., generating approximately $55 million in annual sales in 2012. Terms of the agreement were not disclosed. The transaction is expected to close on November 1, subject to regulatory approval and satisfaction of other customary closing conditions.
“The Encompass Gas Group is among the most respected companies in the U.S. packaged gas industry, and we are very excited for their associates and customers to join the Airgas family,” said Airgas Executive Chairman Peter McCausland. “Encompass’ leadership team and associates have worked very hard over several decades to grow and service the needs of their diverse customer base. We believe this combination will enhance the quality of service and breadth of product offering available to the customers of both companies.”
“Encompass has been family owned and operated since its founding in 1955 as Rockford Industrial Welding Supply. Doing what’s best for our customers and associates has always been our top priority,” said Gary Bertrand, President and Chief Executive Officer of The Encompass Gas Group. “The customer-focused, local service cultures of Encompass and Airgas are very similar. Airgas is the one major player who has consistently shown commitment to the packaged gas business. They have independent roots, and they just get better and better over time. I can’t think of a better company to entrust with our loyal customers and associates, and I look forward to watching our relationships continue to flourish as part of Airgas.”
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