M&A Deal Summary

Air Products and Chemicals Acquires PBF Energy - Five Operating Hydrogen Plants

On March 30, 2020, Air Products and Chemicals acquired oil/gas exploration company PBF Energy - Five Operating Hydrogen Plants from PBF Energy for 530M USD

Acquisition Highlights
  • This is Air Products and Chemicals’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is Air Products and Chemicals’ largest (disclosed) transaction.
  • This is Air Products and Chemicals’ 9th transaction in the United States.
  • This is Air Products and Chemicals’ 1st transaction in New Jersey.

M&A Deal Summary

Date 2020-03-30
Target PBF Energy - Five Operating Hydrogen Plants
Sector Oil/Gas Exploration
Buyer(s) Air Products and Chemicals
Sellers(s) PBF Energy
Deal Type Divestiture
Deal Value 530M USD

Target

PBF Energy - Five Operating Hydrogen Plants

Parsippany, New Jersey, United States
PBF Energy, Inc.'s Five Operating Hydrogen Plants comprises five hydrogen steam methane reformer (SMR) hydrogen production plants and the long-term supply of hydrogen.

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Buyer(S) 1

Buyer

Air Products and Chemicals

Allentown, Pennsylvania, United States

website


Category Company
Founded 1940
Sector Chemicals
Employees20,000
Revenue 12.7B USD (2022)
DESCRIPTION

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.


DEAL STATS #
Overall 17 of 18
Sector (Oil/Gas Exploration) 2 of 2
Type (Divestiture) 5 of 6
State (New Jersey) 1 of 1
Country (United States) 9 of 9
Year (2020) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-12 Oxygen & Argon Works

Caesarea, Israel

Oxygen & Argon Works is an industrial company that manufactures and supplies industrial gases for industry, research and medicine in Israel and provides installation services and maintenance systems. Oxygen & Argon Works was founded in 1935 and is based in Caesarea, Israel.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-12 L Air Liquide S.A. - Industrial Gases Business UAE & Bahrain

United Arab Emirates

L'Air Liquide's Industrial Gases Business UAE & Bahrain comprises Air Liquide Emirates for Industrial Gases LLC (ALEMIR) and Orca Industrial Gases LLC based in the UAE and the Middle East Carbon Dioxide W.L.L (MECD) in Bahrain. ALEMIR provides liquid bulk, packaged gases and specialty gases. MECD is a liquid carbon dioxide (CO2) production facility.

Buy -

Seller(S) 1

SELLER

PBF Energy

Parsippany, New Jersey, United States

website


Category Company
Founded 2008
Sector Oil/Gas Exploration
Revenue 19.8B USD (2014)
DESCRIPTION

PBF Energy, Inc. is an independent refiner in North America, operating, through its subsidiaries, oil refineries and related facilities in Delaware City, Delaware, Paulsboro, New Jersey and Toledo, Ohio.


DEAL STATS #
Overall 2 of 2
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (New Jersey) 2 of 2
Country (United States) 2 of 2
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-11 Royal Dutch Shell - Martinez Refinery

California, United States

Royal Dutch Shell plc - Martinez Refinery is a high-conversion refinery capable of capturing heavy/sour differentials. Martinez Refinery produces a high percentage of an on-spec clean product including premium gasoline, diesel, and jet fuel. Martinez has a refining capacity of 157,000 barrels per day and a Nelson Complexity Index of 16.1.

Buy $1.0B