A-Gas International has completed the acquisition of US firm Coolgas, a leading independent supplier and distributor of refrigerants to the US market. The terms of the transaction have not been disclosed.
This is the fifth strategic acquisition made by A-Gas in 2012 as part of its expansion plans in the UK and internationally. The expanded group will have a turnover of around £130m and 237 employees.
Founded in 1994 by Jesse Combs, Coolgas has grown over the past 18 years to become one of the leading independent distributors of refrigerants in the US. It has recently commissioned a new refrigerant storage and packaging facility in Houston and has distribution centres in California, Utah, Arizona, Indiana, Michigan, Maryland and Georgia.
In recent years Coolgas has also become an EPA registered reclaimer of refrigerants and a project developer for the generation of carbon offsets on the California Climate Action Reserve exchange. These capabilities enable Coolgas to manage the lifecycle of Ozone Depleting Substances (ODS) and substances with high Global Warming Potential (GWP) to safeguard the environment.
The acquisition builds on A-Gas' acquisition of Ohio based refrigerant reclaimer and halocarbon management specialist RemTec International in July this year. The company says that Coolgas provides a strong strategic fit, bringing a strong brand and complementary footprint that will accelerate refrigerants sales growth. In addition, the reclaim and carbon credits businesses extend A-Gas' existing operations in the US Environmental Services market which is already well established in the UK and Europe.
This year A-Gas has also acquired Australian based firm Technochem, SA Rural UK company, A-Zone Technologies.
John Rutley, executive chairman and founder of A-Gas International said: 'Jesse Combs and his management team have built a great business in the US refrigerant sector and we are delighted to add it to our rapidly expanding presence in this important market. The fit with our recently acquired business, RemTec, is perfect and allows us to offer a full range of products and services to our customers in the world's largest refrigerant market.'
