Hudson Technologies Inc. entered into a definitive agreement to acquire Airgas-Refrigerants Inc. (ARI), a subsidiary of Airgas Inc., for approximately $220 million.
ARI distributes and packages refrigerant gases and is an EPA-certified reclaimer. ARI’s HFC distribution business is expected to position Hudson favorably as the industry shifts from hydrochlorofluorocarbons (HCFCs) to hydrofluorocarbons (HFCs).
According to Hudson, the acquisition enhances its business by providing a complementary product portfolio, expanding its geographic footprint and customer base, and expanding its sales and distribution capabilities. The deal also gives Hudson a new audience for its Global Energy Services offerings, which provide optimization solutions, engineering assessments and energy-management tools.
The acquisition of ARI is subject to customary closing conditions and is expected to close in 2017.