August 8 2012
A-Gas buys disposal specialist
A company based in Portishead which specializes in supplying gases used in refrigeration has just completed its fourth takeover this year.
A-Gas has gone on its acquisition spree as part of a strategy to expand into international markets.
The firm is already one of the world's largest suppliers of refrigerated gases, environmental services and specialty gases and chemicals.
The company, which also has offices in Bristol, has bough United States based RemTec International in its latest deal. The firm specializes in disposing of harmful gases.
The value of the deal was not made public but it took place with support from private equity specialist LDC, which invested in the firm in April 2011.
RemTec was set up in 1986 and provides products and services inolved in managing Ozone Depleting Substances (ODS) and substances high in Global Warming Potential (GWP) across the world.
As part of the expansion plan A-Gas has now got a presence in the Middle East, China, Australia and India as well as Latin America.
RemTec has contracts with organizations all over the world to remove, recycle and remarket halocarbons.
The acquisition of RemTec follows on from similar acquisitions of Australian-based Technochem in March and SA Rural in May, and UK based A-Zone Technologies in April.
John Rutley, chairman of A-Gas International, said, "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 of LDC added: "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 their existing position in the global refrigerant market but also gives the business real scale within the USA."
"The transaction brings many strategic benefits to A-Gas and is part of an agreed strategy to rapidly expand and build the business both through organic investment and bolt-on acquisitions. We will continue to work closely with the team to drive their amitious growth plans."
Yann Souillard, managing director of LDC South Region, added: "LDC's South team has worked in close conjunction with the management team to support their ambitious 'buy and build' growth strategy. 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."