A-Gas International, Bristol, England, one of the world’s largest independent suppliers of refrigerants, associated environmental services, and specialty gases and chemicals, has acquired Coolgas Inc., Houston, TX. Coolgas is a leading independent supplier and distributor of refrigerants to the U.S. market. The terms of the transaction were not disclosed.
The acquisition follows the A-Gas acquisition of Ohio based refrigerant reclaimer and halocarbon management specialist RemTec International in July 2012, Australian based Technochem in March 2012 and SA Rural in May 2012, and UK based A-Zone Technologies in April 2012.
The transaction represents the fifth strategic acquisition completed by A-Gas so far in 2012, and forms part of the Group’s acquisitive growth strategy which is being executed both in the UK and internationally. The combined companies will employ 237 people.
Coolgas was founded in 1994 by Jesse Combs. It's grown over the past 18 years to become one of the leading independent distributors of refrigerants in the US. Coolgas follows a “refrigerants made simple” philosophy, that sources say reflects the focus on customer service that has enabled it to grow to become a national presence in the refrigerant market.
Coolgas has recently commissioned a new refrigerant storage and packaging facility in Houston and has distribution centers in California, Utah, Arizona, Indiana, Michigan, Maryland, and Georgia. In recent years Coolgas has become an EPA-registered reclaimer of refrigerants, and a project developer for the generation of carbon offsets on the California Climate Action Reserve exchange.
Coolgas provides a strong strategic fit, bringing a strong brand and complementary 2 footprint that will accelerate refrigerants sales growth. Further 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.
"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." said John Rutley, executive chairman and founder of A-Gas International.
Jon Masters, regional managing director of A-Gas International said, "The acquisition of Coolgas will significantly strengthen our position as the leading independent global supplier of refrigerants at a time when regulatory changes are providing increasing opportunities for reclamation and recycling of used refrigerants using our market leading technology developed in the UK. We look forward to supporting the Coolgas management team and workforce in continuing to provide outstanding service to its customers."
Jesse Combs, CEO of Coolgas said: "I feel honoured that A-Gas saw Coolgas as a strategic fit and entry point into the US refrigerants’ distribution business," said Jesse Combs, CEO, Coolgas.
"Our team of professionals have a customer service mind-set that I believe sets Coolgas apart from the rest of the industry. I have the utmost confidence that the A-Gas team will support and grow upon our "refrigerants made simple" philosophy for many years to come."