Airgas Enhances Equipment Rental and Service Offering with Acquisition of Texas-Based D&D Power, LLC
RADNOR, PA - Airgas, Inc. (NYSE: ARG), the largest U.S. supplier of industrial, medical, and specialty gases, and related products, today announced that Red-D-Arc, Inc., an Airgas company, has acquired D&D Power, LLC, a Texas-based equipment rental and services business which provides mobile power generation and light towers, as well as preventative maintenance and other services, to the oil and gas exploration and production industry. D&D Power generated annualized revenues of approximately $25 million in calendar year 2012.
"We're very excited about the addition of D&D Power's rental equipment and services business to Airgas' integrated product and service offering," said Airgas President and CEO Michael Molinini. "When combined with Red-D-Arc's rental welder business and Airgas On-Site Safety Services, and complemented by the full breadth of Airgas' gases and hardgoods products, services, and expertise, our value proposition to customers in oilfield services, construction, and other energy-related markets has never been stronger. Red-D-Arc welcomes 53 D&D employees in La Vernia, Decatur, and Big Lake, Texas, and Jal, New Mexico to the Airgas family."
"All of us at D&D Power are pleased that the legacy we started will continue and grow with Red-D-Arc and Airgas," said D&D Power CEO Pam Huffman. "Red-D-Arc played a key role in helping us grow our business. Now customers will have all the resources of Red-D-Arc and Airgas in addition to what D&D Power provided."
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 eBusiness, 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.
Media Contact:
Doug Sherman
(610) 902-6270
doug.sherman@airgas.com
Investor Contact:
Barry Strzelec
(610) 902-6256
barry.strzelec@airgas.com
Airgas, Inc.
259 North Radnor-Chester Road Suite 100,
Radnor,
PA 19087-5283
