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 completed the acquisition of the assets and operations of The Encompass Gas Group, effective at the close of business on October 31, 2013. Airgas first announced its agreement to acquire Encompass on October 7, 2013, subject to regulatory approval and satisfaction of other customary closing conditions.
Headquartered in Rockford, Illinois, Encompass was one of the largest privately-owned suppliers of industrial, medical, and specialty gases and related hardgoods in the U.S. With eleven locations and more than 130 associates in Illinois, Wisconsin and Iowa, Encompass generated approximately $55 million in revenues in 2012.
“We are very excited to welcome the associates and customers of Encompass into the Airgas family and look forward to continuing the tradition of excellent customer service that Encompass’ customers have come to expect,” said Airgas Executive Chairman Peter McCausland. “We believe the combination of Airgas and Encompass will only enhance the quality of service and breadth of product offering available to current and future customers in the region.”
Encompass had been family owned and operated since its founding in 1955 as Rockford Industrial Welding Supply. “This is a new chapter for Encompass’ loyal and professional associates, and I’m confident that they will thrive in Airgas’ customer-focused culture,” said Gary Bertrand, President and Chief Executive Officer of The Encompass Gas Group. “Airgas’ commitment to the packaged gas business and consistent investment in the local strength and service required to succeed in our industry point to a very bright future for Encompass’ associates and customers alike under the Airgas name.”
This press release contains statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the SEC in its rules, regulations and releases. Forward-looking statements include any statement that is not based on historical fact, including statements containing the words "believes," "may," "plans," "will," "could," "should," "estimates," "continues," "anticipates," "intends," "expects," and similar expressions. We intend that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors and should not be regarded as a representation by us or any other person that the results expressed therein will be achieved. Airgas assumes no obligation to revise or update any forward-looking statements for any reason, except as required by law. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include: the successful combination of the associates and customers of Encompass and Airgas; and other factors described in the Company's reports, including its March 31, 2013 Form 10-K, subsequent Form 10-Q, and other forms filed by the Company with the SEC.