News is breaking that Nikkiso Co., has completed its 100% takeover of Cryogenic Industries Holdings, Inc. in a deal worth around $440m.
Nikkiso’s Board of Directors concluded a share purchase agreement on 20th April, which saw the Tokyo-based corporation acquire 100% of Cryogenic Industries’ shares.
Cryogenic Industries houses ACD LLD, Cosmodyne LLC, Cryoquip LLC and Cryogenic Industries AG (CIS). Collectively, the group is one of the world’s leading players for a wide range of products and services for liquefaction and separation plants for air gases and small-scale liquefied natural gas (LNG) liquefaction plants.
Under the deal, Nikkiso will acquire all four companies and their 18 respective subsidiaries. Combined, the group turned over $156m in consolidated revenue in 2016 and owns $144m in net assets.
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