Airgas Completes the Acquisition of The Encompass Gas Group, including
Eleven Locations in Illinois, Wisconsin and Iowa
RADNOR, Pa. -- November 1, 2013
Airgas, Inc. (NYSE: ARG), one of the nation’s leading suppliers of industrial,
medical, and specialty gases and related products, today announced that it has
completed the acquisition of the assets and operations of The Encompass Gas
Group, effective at the close of business on October 31, 2013. Airgas first
announced its agreement to acquire Encompass on October 7, 2013, subject to
regulatory approval and satisfaction of other customary closing conditions.
Headquartered in Rockford, Illinois, Encompass was one of the largest
privately-owned suppliers of industrial, medical, and specialty gases and
related hardgoods in the U.S. With eleven locations and more than 130
associates in Illinois, Wisconsin and Iowa, Encompass generated approximately
$55 million in revenues in 2012.
“We are very excited to welcome the associates and customers of Encompass into
the Airgas family and look forward to continuing the tradition of excellent
customer service that Encompass’ customers have come to expect,” said Airgas
Executive Chairman Peter McCausland. “We believe the combination of Airgas and
Encompass will only enhance the quality of service and breadth of product
offering available to current and future customers in the region.”
Encompass had been family owned and operated since its founding in 1955 as
Rockford Industrial Welding Supply. “This is a new chapter for Encompass’
loyal and professional associates, and I’m confident that they will thrive in
Airgas’ customer-focused culture,” said Gary Bertrand, President and Chief
Executive Officer of The Encompass Gas Group. “Airgas’ commitment to the
packaged gas business and consistent investment in the local strength and
service required to succeed in our industry point to a very bright future for
Encompass’ associates and customers alike under the Airgas name.”
This press release contains statements that are forward looking, as that term
is defined by the Private Securities Litigation Reform Act of 1995 or by the
SEC in its rules, regulations and releases. Forward-looking statements include
any statement that is not based on historical fact, including statements
containing the words "believes," "may," "plans," "will," "could," "should,"
"estimates," "continues," "anticipates," "intends," "expects," and similar
expressions. We intend that such forward-looking statements be subject to the
safe harbors created thereby. All forward-looking statements are based on
current expectations regarding important risk factors and should not be
regarded as a representation by us or any other person that the results
expressed therein will be achieved. Airgas assumes no obligation to revise or
update any forward-looking statements for any reason, except as required by
law. Important factors that could cause actual results to differ materially
from those contained in any forward-looking statement include: the successful
combination of the associates and customers of Encompass and Airgas; and other
factors described in the Company's reports, including its March 31, 2013 Form
10-K, subsequent Form 10-Q, and other forms filed by the Company with the SEC.
About Airgas, Inc.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is one of the nation’s
leading suppliers of industrial, medical and specialty gases, and hardgoods,
such as welding equipment and related products. Airgas is a leading U.S.
producer of atmospheric gases with 16 air separation plants, a leading
producer of carbon dioxide, dry ice, and nitrous oxide, one of the largest
U.S. suppliers of safety products, and a leading U.S. supplier of
refrigerants, ammonia products, and process chemicals. More than 15,000
employees work in approximately 1,100 locations, including branches, retail
stores, gas fill plants, specialty gas labs, production facilities and
distribution centers. Airgas also markets its products and services through
e-Business, catalog and telesales channels. Its national scale and strong
local presence offer a competitive edge to its diversified customer base. For
more information, please visit www.airgas.com.
Investor & Media Contact:
Barry Strzelec, 610-902-6256
Joseph Marczely, 610-263-8277
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