Radnor, PA-based Airgas – No. 8 on Industrial Distribution's 2014 Big 50 List – announced on Wednesday that it has acquired industrial gas and welding supply distributor Weldinghouse, as well as nitrogen services company Priority Energy Services. Financial terms were not disclosed.
The additions make nine completed acquisitions for Airgas since the start of its 2016 fiscal year on April 1. The company said those nine acquisitions total approximately $74 million in acquired revenue.
The Weldinghouse acquisition was effective July 17, and Priority Energy was effective July 20.
Corpus Christi, TX-headquartered Weldinghouse had more than $19 million in 2014 sales. It has four locations in southern Texas and nearly 40 associates.
"The addition of Weldinghouse's associates and locations into Airgas via our Gulf Coast Region will enhance and strengthen our position in this important market," said Jason Favre, Airgas President - Gulf Coast Region. "We look forward to continuing to provide Weldinghouse's customers with the exemplary service and products they have come to expect and are proud to welcome Weldinghouse's associates into the Airgas family."
"Weldinghouse has developed a great deal of respect for the way Airgas conducts business and the value they bring to the gas and welding industries," said Gary Gray, Vice President of Weldinghouse. "Additionally, Airgas is focused on meeting the needs of our employees and customers. As Weldinghouse joins Airgas, our customers will reap great benefits and the South Texas welding industry will be strengthened."
Covington, LA-based Priority Energy Services has seven locations in Louisiana, Texas, and West Virginia, totaling approximately 75 employees. The company had 2014 sales of $21 million. It will be integrated into Airgas as a new business unit named Airgas Priority Nitrogen.
"We look forward to welcoming Priority Energy Services' associates and customers into the Airgas family," said Tom Thoman, Airgas Division President - Gases. "With this acquisition, Airgas will now offer nitrogen services and solutions to process industries for purging and pipeline applications to optimize plant and pipeline operations, further enhancing the quality and breadth of Airgas' service and product offerings for our customers."
"It's an exciting time for Priority Energy as our nitrogen services group joins Airgas," said Chris Abide, President of Priority Energy Services, who will now lead nitrogen services at Airgas. "We feel that Airgas' culture and values are an excellent match for our associates and customers and look forward to a bright future and successful partnership with Airgas."