A-Gas executing PE-backed refrigerant roll-up under KKR ownership

The VEMAC deal is A-Gas's fourth refrigerants-business acquisition since KKR's mid-2017 investment, with prior buys including BTC (Netherlands, 2017), Arthur Friedrichs Kaltemittel (Europe, 2018), and Diversified Pure Chem (USA, 2017), evidencing a KKR-sponsored buy-and-build roll-up in the refrigerant lifecycle sector.

“This is the fourth acquisition of a refrigerants business by A-Gas since the mid-2017 investment in the company by private equity firm KKR. A-Gas bought the Netherlands-based reclamation business BTC in 2017, and in 2018 acquired the leading supplier of refrigerants to the European automotive sector, Arthur Friedrichs Kältemittel. The company also bought USA-based refrigerant reclamation specialist Diversified Pure Chem in 2017 as part of a wider global growth plan.”

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