For more information about the Aeriform
transactions, go to http://www.
Airgas and Aeriform people have worked to make this transition a smooth one for customers and employees," said Mike Molinini, executive vice president and chief operating officer of Airgas.
All of us at Aeriform are very pleased to complete this transaction on schedule, which will allow our organization and our customers to go forward with the nation's largest distributor," said Michael Stoddard, president and CEO of Aeriform Corporation.
With this purchase agreement, Aeriform will own and operate the following 15 locations in 12 Texas cities: Beaumont, Borger, Brownsville, Corpus Christi, El Paso, Freeport, Port Arthur, Sherman and Victoria; plus two locations each in Lubbock, Odessa and Houston.
Air Liquide America will be turning all welding and hardgoods business, including small- and medium-size cylinder customers over to Aeriform and other new ALNET(TM) distributors, where they will be serviced through the distributorship.
As part of the acquisition, Airgas will offer employment to most of the 240 employees of Aeriform
affected by the acquisition.
senior management and directors will also invest in this transaction and the Employee Stock Ownership Plan, or ESOP, will continue its common stock ownership.
Air Products will supply liquid helium from its helium facilities in Texas and Kansas as well as liquid oxygen, nitrogen and argon to Aeriform
under a long-term contract valued at over $4 million.
American Capital invests in a wide range of industries; some recent investments include Caswell-Massey, producer and retailer of soaps and toiletries; TransCore, a manufacturer of transportation technology; The Inca Group, a manufacturer and processor of steel products; and the Aeriform
Corporation, an employee-owned specialty gas producer in Texas.
5 million investment in senior subordinated debt at Aeriform
5 million of senior subordinated debt at Aeriform