M&A Deal Summary

Praxair Acquires NuCO2

On March 1, 2013, Praxair acquired chemicals company NuCO2 from Aurora Capital Partners and Cambria Group for 1.1B USD

Acquisition Highlights
  • This is Praxair’s 6th transaction in the Chemicals sector.
  • This is Praxair’s largest (disclosed) transaction.
  • This is Praxair’s 36th transaction in the United States.
  • This is Praxair’s 1st transaction in Florida.

M&A Deal Summary
Date 2013-03-01
Target NuCO2
Sector Chemicals
Buyer(s) Praxair
Sellers(s) Aurora Capital Partners
Cambria Group
Deal Type Add-on Acquisition
Deal Value 1.1B USD

Target

NuCO2

Stuart, Florida, United States
website
NuCo2 is a supplier of liquid carbon dioxide (as opposed to carbon dioxide gas in cylinders) to retail establishments for carbonating and dispensing fountain beverages. It is also the only national supplier to this essentially noncyclical U.S. market.

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Buyer(S) 1

Buyer

Praxair

Danbury, Connecticut, United States

website

Category Company
Founded 1907
Sector Chemicals
Revenue 10.5B USD (2016)
DESCRIPTION
View of Praxair's corporate headquarters in Danbury, Connecticut.
View of Praxair's corporate headquarters in Danbury, Connecticut.

Praxair is an industrial gases company that produces, sells, and distributes atmospheric and process gases, and high-performance surface coatings. The company's products, services, and technologies serve a variety of industries including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals, and others. Praxair was formed in 1907 and is based in Danbury, Connecticut.

DEAL STATS #
Overall 41 of 58
Sector (Chemicals) 6 of 12
Type (Add-on Acquisition) 36 of 51
State (Florida) 1 of 1
Country (United States) 36 of 46
Year (2013) 1 of 4
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-13 PortaGas

Pasadena, Texas, United States

PortaGas supplies a variety of calibration gases used in industrial hygiene and safety applications. PortaGas has also developed unique, recyclable cylinders as an alternative to disposable cylinders. PortaGas fully-automated specialty gases facility located in the greater Houston area.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-11 Tri-State Carbonic - Carbon Dioxide Business

Lawrenceburg, Indiana, United States

Tri-State Carbonic - Carbon Dioxide Business is a producer of carbon dioxide gas for industrial purpose.

Buy -

Seller(S) 2

SELLER

Aurora Capital Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1991
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Aurora Capital Partners is a private investment firm that manages private equity funds as well as investment vehicles focused on debt/equity securities. Targeted businesses are generally industry leaders that operate in defensible markets with sustainable margins. Sectors of interest include aerospace, industrial products, and services, packaging, plastics, distribution, manufacturing, media, retail, and chemicals. Aurora will only consider majority/control positions. Aurora's investment horizon is typically three to seven years. Aurora Capital Partners was formed in 1991 and is based in Los Angeles, California.

DEAL STATS #
Overall 9 of 23
Sector (Chemicals) 1 of 3
Type (Add-on Acquisition) 3 of 7
State (Florida) 1 of 1
Country (United States) 9 of 22
Year (2013) 1 of 4
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-20 DuBois Chemicals

Sharonville, Ohio, United States

DuBois Chemicals is a chemical maker whose products are used for cleaning in a wide variety of industries. DuBois prides itself on high-quality solutions that improve efficiency, reduce environmental impact, and perform to the most demanding standards. DuBois Chemicals was founded in 1920 and is based in Sharonville, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-31 ADCO Global

Lincolnshire, Illinois, United States

ADCO Global, Inc. is a focused specialty chemical company that has been formed to assemble specialized skills, application technologies, and talents that can better answer the growing need for high performance adhesives, sealants and tapes. The acquisition and orchestration of several segment leaders, focused principally in construction, transportation and industrial market applications, is creating a globally networked company serving Fortune 500 as well as specialized industrial customers.

Sell -
SELLER

Cambria Group

Dallas, Texas, United States

Investor Investor Investor

website

Category Private Equity Firm
Founded 1996
Size Small
Type Sector Agnostic
DESCRIPTION

The Cambria Group is a private equity firm that targets investments in small and mid-sized companies. Cambria prefers control investment situations where the firm can invest up to $5 million in businesses valued less than $25 million. Target companies typically generate sales up to $50 million and operate in the manufacturing, processing, distribution, transportation, or service sectors. Cambria will not invest in retail, technology, or healthcare. The Cambria Group was formed in 1996 and is based in Dallas, Texas.

DEAL STATS #
Overall 9 of 15
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 5 of 9
State (Florida) 1 of 1
Country (United States) 9 of 15
Year (2013) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-05 C.C. Filson Company

Seattle, Washington, United States

Filson Holdings designs, manufactures and markets premium apparel and accessories for the hunting, fishing, camping, outdoor and workwear markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-09 WebEquity Solutions

Omaha, Nebraska, United States

WebEquity Solutions LLC is a provider of on-demand lending software solutions.

Sell -
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