Airgas acquires gas distributor Tri-Tech

AP News
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Posted: Nov 16, 2009 3:19 PM

Specialty gas distributor Airgas Inc. said Monday it acquired Tri-Tech, a gas supplier based in Tampa, Fla.

Tri-Tech operates 16 locations throughout Florida, Georgia and South Carolina and generates annual revenue of $31 million, Airgas said. Terms of the acquisition were not provided.

Airgas said 12 of the acquired locations have been integrated into the regional company Airgas South, and four have been integrated into Airgas National Welders.

"We are thrilled to welcome more than 110 Tri-Tech employees to the teams," Executive Vice President and Chief Operating Officer Mike Molinini said.

Shares of Airgas rose 99 cents, or 2.1 percent, to $48.40 in afternoon trading.