Bedminster, NJ, May 06, 2022 — Air Water America Inc., a subsidiary of Air Water Inc., announced today that it has acquired Noble Gas Solutions, Inc. (Noble Gas), a leading independent gas and welding products distributor in New York.
Formed in 1940, Noble Gas Solutions began serving the industrial and manufacturing industries; the company’s headquarters and primary cylinder filling plant are located in Albany, New York, with additional retail stores located in South Glens Falls, NY, and Kingston, NY.
“This is a fantastic opportunity for Noble Gas to continue its growth and for our employees to advance within the organization,” said J. David Mahoney, former CEO and owner of Noble Gas. “The acquisition will provide Noble gas with additional resources to allow us to better serve our customers. The entire Noble Gas Solutions team is excited to expand our product offerings to our customers with Air Water’s advanced gases and solutions technology,” said Colleen Kohler, current CEO of Noble Gas.
“North America is one of the key growth areas for Air Water Inc. globally. In the past 5 years, Air Water America has made significant investments in the industrial gases and equipment area, acquiring Taylor-Wharton, TOMCO2 Systems, Cryogenic Vessels Alternative (CVA), Cryofin, CO2 Air, a 49% stake of Dohmeyer Cryogenics, and a $50 million equity investment in First Element Fuels. Air Water Gases Solutions (AWGS) is the industrial gases arm of Air Water America, serving the industrial gases market in North America. AWGS product offerings serve the food and beverage sectors, electronics, pharmaceuticals, biosciences, energy, steel, manufacturing, and other industries,” said AWGS President and CEO, Ishmael Chalabi. “We’re excited to welcome the Noble Gas team to the Air Water Group and look forward to working together to serve the area’s customers.”
About Air Water Group
Air Water America is a wholly-owned subsidiary of Air Water Inc. (“Air Water Japan”). Air Water Japan was established in 1929 and, for over 90 years, has continued to grow in the manufacturing and supply of industrial gases and related services. Air Water Japan has developed its own engineering capability to design, manufacture and operate air separation units and non-cryogenic air separation plants. Air Water Japan has successfully managed our industrial gas businesses and expanded our product supply and service capability throughout Japan, becoming a strong No. 2 player in the market. In the past few years, Air Water Japan also invested outside of Japan, in the U.S., India, and Asian markets.
Since its incorporation, Air Water Japan and its group entities (“Air Water Group”) have expanded its businesses and provided consistent growth in revenues. Air Water Japan’s common stock is listed on the Tokyo Stock Exchange and Sapporo Stock Exchange. Air Water Group employs more than 18,000 people around the world and has annual net sales of approximately JPY807 billion (equivalent to USD 7.4 billion) on a consolidated basis for the fiscal year ended March 31, 2022.
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