Acquisition of ASG
- Iwatani Enters the US Specialty Gases Market -
Iwatani Corporation of America, a wholly owned subsidiary of Iwatani Corporation (8088: Tokyo Stock Exchange) announced on November 6 that it has acquired Advanced Specialty Gases, based in Reno, Nevada. Financial terms of the transaction were not disclosed.
Advanced Specialty Gases is a premier provider of a broad portfolio of specialty gases and services capable of serving customers globally and is well recognized for its exceptional commitment to its clients. The acquisition marks Iwatani’s entry into the United States specialty gases market.
“Iwatani was a natural fit for our family to transition ownership to,” said David Stein, owner and president of Advanced Specialty Gases. “Iwatani will continue to invest in the business to grow, expand its product offerings and bring enhanced value propositions to customers.”
Advanced Specialty Gases serves a wide range of industries including electric utilities, semiconductor, mobility and chemicals among its largest segments. Products include specialty and rare gases as well as complex mixtures.
“Over the past 20 years, Advanced Specialty Gases has earned a solid reputation and built an exceptional business and talented team,” said Joe Cappello, CEO of Iwatani Americas. “The business is a great platform for Iwatani to extend its global capabilities to serve customers in strong and growing markets and we are very pleased that Brian Hamilton, who has been an integral part of Advanced Specialty Gases since its inception, has been named General Manager and will lead the Team forward.”