LDC's A-Gas buys US-based Coolgas

The deal was financed by LDC as well as A-Gas's existing banking syndicate, which comprises Lloyds Bank Wholesale Banking & Markets Acquisition Finance, HSBC and RBS.

This is the fifth bolt-on for the business since LDC acquired it in a £70m tertiary buyout from Growth Capital Partners last year. A-Gas most recently bought another US-based business, halocarbon management specialist RemTec International, in August.

LDC believes this latest acquisition will strengthen A-Gas's existing US-based operations and will allow the business to further penetrate the world's largest refrigerant market.

Company
Founded in 1994, Coolgas is an independent distributor of refrigerants operating in the US market. The business has around 3,000 customers, with an established network of distribution operations in California, Utah, Arizona, Indiana, Michigan, Maryland and Georgia.

The Houston-based company is officially recognised as an Environmental Protection Agency (EPA)-registered reclaimer of refrigerants.

Bristol-based A-Gas is a refrigerant gases, environmental services, speciality gases and chemicals provider. Following this latest add-on, the company will employ 237 people and generate a £130m turnover.

People
Ian Podmore and Yann Souillard worked on the deal for LDC.

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• Topics
• UK / Ireland
• Expansion
• Industrials
• United Kingdom
• LDC
• Acquisition finance
• Lloyds
• HSBC