KENTWOOD — A distributor of gases for the food and beverage industry has been acquired by Radnor, Pa.-based Airgas Inc.
The family-owned Carbonic Systems Inc. of Kentwood, a regional provider of beverage-grade and food-grade carbon dioxide and nitrogen, sold to Airgas, a supplier of industrial, medical and specialty gases and welding equipment, according to a statement.
Carbonic Systems’ management team remains with the company.
Dallas-based Generational Equity LLC, a mergers and acquisitions adviser, represented Carbonic Systems in the deal, which closed in August 2017 but was announced publicly this week.
Terms of the deal were not disclosed.
“Carbonic Systems’ distribution network provided a strong strategic opportunity for Airgas,” Generational Equity Senior Vice President Fred Zweifel said in a statement. “Airgas will now be able to provide additional opportunities to an already established regional network.”
Airgas is a division of Paris, France-based Air Liquide S.A., which generated revenues of more than 20 billion euros in 2017.