A-Gas acquires US halocarbon specialist
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Bristol-based A-Gas has acquired RemTec International, which specialises in the management of greenhouse gases called halocarbons, with backing from private equity investor LDC.
Speciality gas and chemical supplier A-Gas International has completed the acquisition of US-based RemTec International for an undisclosed value.
Founded in 1986, RemTec is a specialist in the controlled halocarbon management and sustainability industry.
The deal was transacted with support from private equity provider LDC, which invested in A-Gas in April 2011.
The transaction represents the fourth strategic acquisition completed by Bristol-based A-Gas so far in 2012, and forms part of the group’s growth strategy which is being executed both in the UK and internationally.
Sources at A-Gas say the acquisition provides a strong strategic fit with the company’s existing operations in the environmental services market, and provides the business with a solid foothold within the all-important North American market.
The acquisition of RemTec follows on from the successful acquisitions of Australian-based Technochem in March 2012, SA Rural in May 2012, and UK-based A-Zone Technologies in April 2012.
John Rutley, executive chairman of A-Gas International says, ‘The acquisition of RemTec is another great example of our ambition to grow the business on a global scale.
‘RemTec brings a market leadership position in Halons and a strong platform for growth in refrigerants; we believe that there is real scope to build further upon RemTec’s success to date in North America, whilst also driving value across the enlarged group.’
Ian Podmore, investment director of LDC adds, ‘2012 has been an exceptionally busy year to date for A-Gas. RemTec is the fourth strategic acquisition completed by the business this year and not only strengthens A-Gas’s existing position in the global refrigerant market but also gives the business real scale within the USA.’
Yann Souillard, managing director of LDC South Region says that since LDC’s initial investment in A-Gas last year, LDC’s South team has worked in close conjunction with the company’s management team to support their ‘buy and build’ growth strategy.
He adds, ‘As part of our investment commitment, LDC works closely with our investment portfolio to provide expertise and follow-on funding when the right target companies become available.’