Airgas (Radnor, Pa.; www.airgas.com), an Air Liquide company, announced that it has signed an agreement with Hudson Technologies, Inc. to sell Airgas-Refrigerants, Inc. (ARI), its subsidiary specializing in the distribution, packaging and reclamation of refrigerant gases. The transaction is said to be valued at around $220 million, subject to closing and post-closing adjustments.
Hudson Technologies, Inc., headquartered in Pearl River, NY, is a leading provider of innovative and sustainable solutions for optimizing performance and enhancing reliability of commercial and industrial chiller plants and refrigeration systems.
The transaction is subject to customary closing conditions. Both parties currently expect the transaction to be completed in 2017.