Linde Buys Out Stake in One of the Largest U.S. Independent Packaged Gas Distributors

Rhea-AI Summary

Linde has acquired the remaining 77.2% interest in nexAir, LLC, a major packaged gas distributor in the U.S., boosting its sales to approximately $400 million in 2022. This acquisition aligns with Linde's strategy to enhance network density and expand its operational footprint in the southeastern U.S. Linde Gas & Equipment Inc., which has held a minority stake since 2012, will now fully integrate nexAir to strengthen service reliability and quality for customers.

Positive

• Acquisition of nexAir expands Linde's market presence in the southeastern U.S.
• nexAir reported sales of approximately $400 million in 2022, enhancing Linde's revenue potential.

Negative

• None.

WOKING, UK / ACCESSWIRE / January 6, 2022 / Linde (NYSE:LIN)(FWB:LIN) announced today it has acquired the remaining interests in nexAir, LLC, one of the largest independent packaged gas distributors in the United States with 2022 sales of approximately $400 million.

Linde's wholly owned subsidiary Linde Gas & Equipment Inc. (LG&E) has held a minority interest in nexAir since 2012. LG&E has now purchased the remaining 77.2%. The acquisition complements Linde's existing packaged gas business and expands its footprint in a core and fast-growing geography across the southeastern United States.

"This consolidation is consistent with our business strategy of increasing network density and reinvesting in opportunities that meet the investment criteria," said Ben Glazer, President of LG&E. "We look forward to further strengthening our presence in the southeastern U.S. while serving our customers with the same level of reliability and quality that they have come to expect."

About Linde

Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet.

The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.

For more information about the company and its products and services, please visit www.linde.com

Contacts:

Investor Relations
Juan Pelaez
Phone: +1 203 837 2213
Email: juan.pelaez@linde.com

Media Relations
Anna Davies
Phone: +44 1483 244705
Email: anna.davies@linde.com

SOURCE: Linde plc

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https://www.accesswire.com/734306/Linde-Buys-Out-Stake-in-One-of-the-Largest-US-Independent-Packaged-Gas-Distributors