Air Products and Chemicals - M&A Summary and Business Overview

ChemicalsCompany

Air Products and Chemicals M&A Summary

Air Products and Chemicals has acquired 21 companies, including 3 in the last 5 years. A total of 5 acquisitions came from private equity firms. It has also divested 14 assets.

Air Products and Chemicals’ largest acquisition to date was in 2020, when it acquired PBF Energy - Five Operating Hydrogen Plants for $530M. It’s largest disclosed sale occurred in 2016, when it sold Air Products - Performance Materials Division to Evonik Industries AG for $3.8B. Air Products and Chemicals has acquired in 7 different US states, and 8 countries. The Company’s most targeted sectors include chemicals (34%) and leisure (17%).

Air Products and Chemicals Business Overview

Where is Air Products and Chemicals headquartered?

Air Products and Chemicals is headquartered in Allentown, Pennsylvania.

What is Air Products and Chemicals’ revenue?

Air Products and Chemicals disclosed revenue of 12,699M USD for 2022 and 10,323M USD for 2021.

How many employees does Air Products and Chemicals have?

Air Products and Chemicals has 20,000 employees.

What sector is Air Products and Chemicals in?

Air Products and Chemicals is a chemicals company.

When was Air Products and Chemicals founded?

Air Products and Chemicals was founded in 1940.

M&A Summary

  • M&A Total Activity32
    • M&A Buy Activity18
    • M&A Sell Activity14
  • Total Sectors Invested 8
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 23
  • M&A Advisors 3

Air Products and Chemicals

Air Products and Chemicals, Inc.

1940 Air Products Boulevard,
Allentown, Pennsylvania 18106
United States,
(610) 481-4911
www.airproducts.com

Air Products and Chemicals serves energy, electronics, chemicals, steel, and manufacturing customers globally with a unique portfolio of products, services, and solutions that include atmospheric gases, process and specialty gases, performance materials, equipment, and services. The Company is the world’s largest supplier of hydrogen and helium and has built leading positions in growth markets such as semiconductor materials, refinery hydrogen, natural gas liquefaction, and advanced coatings and adhesives. Air Products and Chemicals was incorporated in 1940 and is based in Allentown, Pennsylvania.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 15 2 - 1 - - 18
vol $532M $530M $1.1B
Sell (0.0/yr) # 14 - - - - - 14
vol $4.3B $4.3B
  32

Most Recent M&A

Company Date Value Type
L'Air Liquide S.A. - Industrial Gases Business UAE & Bahrain 2022-04-12 - Divestiture
, United Arab Emirates
PBF Energy, Inc. - Five Operating Hydrogen Plants 2020-03-30 530M USD Divestiture
Parsippany, New Jersey
Oxygen & Argon Works Ltd. 2020-02-12 - Add-on Acquisition
Caesarea, Israel · www.oxar.co.il
General Electric Co. - Gasification Business & Technology 2018-11-05 - Divestiture
Fairfield, Connecticut
Baker Hughes - Rotoflow Turboexpander Business 2018-08-22 - Divestiture
Houston, Texas
ACP Europe SA 2018-02-15 - Add-on Acquisition
Heusden-Zolder, Belgium · www.acpco2.com
Versum Materials Inc. 2016-10-03 - Spin Off
Allentown, Pennsylvania · www.versummaterials.com
Air Products - Performance Materials Division 2016-05-06 3.8B USD Divestiture
, United States
Baywater Healthcare Ltd. 2013-12-30 - Divestiture
Crewe, United Kingdom · www.baywater.co.uk
EPCO Carbon Dioxide Products, Inc. 2013-06-03 - Add-on Acquisition
Monroe, Louisiana · www.epcoco2.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Air Products Canada Ltd.    - Air Products Canada - Western Canada Bulk Gas Business 2003-05-05 1
Mississauga, Ontario Mississauga, Ontario

M&A by Sector

Sector Buy # Value Sell # Value
Chemicals 6 (33%) 532M (50%) 9 (64%) 4.3B (100%)
Leisure 3 (17%) - - -
Distribution 2 (11%) - - -
Energy Services and Equipment 2 (11%) - - -
Oil/Gas Exploration 2 (11%) 530M (50%) - -
Engineering 1 (6%) - 1 (7%) -
Healthcare Services - - 2 (14%) -
Medical Products - - 2 (14%) -
Machinery 1 (6%) - - -
Semiconductors 1 (6%) - - -
Total 18 $1.1B 14 $4.3B

By Geo

State/Country Buy Value Sell Value
United States 9 645M 12 4.3B
  Texas 3 - 1 -
  Louisiana 1 - 1 155M
  New Jersey 1 530M 1 -
  Pennsylvania - - 2 -
  Connecticut 1 - - -
  California 1 - - -
  Arizona 1 - - -
  Wisconsin 1 115M - -
  New York - - 1 -
United Kingdom 3 - 1 -
Germany 1 - 1 -
Belgium 1 - - -
Chile 1 - - -
Israel 1 - - -
Poland 1 417M - -
United Arab Emirates 1 - - -
Domestic 9 (50%) 645M (61%) 12 (86%) 4.3B (100%)
Cross-border 9 (50%) 417M (39%) 2 (14%) -
Total 18 $1.1B 14 $4.3B

Top M&A Advisors

Financial Deals
Lazard Ltd.
 1
Altium Capital Ltd.
 1
Legal Deals
Skadden, Arps, Slate, Meagher & Flom
 1

Deal Values

buy # Total
$100M to $1B 3 $1.1B
TOTAL $1.1B
Largest PBF Energy, Inc. - Five Operating Hydrogen Plants
$530M (2020-03-30)
sell # Total
> $1B 1 $3.8B
$100M to $1B 2 $366M
< $100M 2 $167M
TOTAL $4.3B
Largest Air Products - Performance Materials Division
$3.8B (2016-05-06)

M&A Connections

Deals
Acquired from
Investor(s)
11%
2 (11%)
Strategic(s)
33%
6 (33%)
Divested to
Investor(s)
7%
1 (7%)
Strategic(s)
86%
12 (86%)

Company Summary

SECTOR

Chemicals

Revenue

12,699   24% 2022
10,323   17% 2021
8,856   1% 2020
8,919   1% 2019
8,930   10% 2018
8,188   15% 2017
9,524   4% 2016
9,895   6% 2015
10,439   3% 2014
10,180   6% 2013
9,611   2012
(millions of USD) Show More Show Less

Employees

20,000

Established

1940

Public

NYSE: APD

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