Add-on Acquisition • Distribution

Iwatani Acquires Aspen Air

On January 4, 2023, Iwatani acquired distribution company Aspen Air

Acquisition Context

This is Iwatani’s 1st transaction in the Distribution sector.
This is Iwatani’s 2nd transaction in the United States.
This is Iwatani’s 1st transaction in Montana.

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M&A Deal Summary
Date	January 4, 2023
Target	Aspen Air
Sector	Distribution
Buyer(s)	Iwatani
Deal Type	Add-on Acquisition

Target Company

Aspen Air

Billings, Montana, United States

Aspen Air is a manufacturer and distributor of bulk liquid industrial gases in Montana and the surrounding States. Aspen Air supports a diverse industrial and medical base of customers including those in the energy and chemicals sectors, hospitals, and the very important packaged gases and independent distributor network. Aspen Air is based in Billings, Montana.

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Buyer Overview 1

Buyer

Iwatani

Houston, Texas, United States

Category	Company
Sector	Electronics

DESCRIPTION

Iwatani Corp. creates the safest, most efficient and innovative butane stoves called Cassette Feul worldwide. By using butane, a safer alternative to propane, Iwatani has been able to apply its expertise to develop innovative, user-friendly, butane powered products.

Deal Context for Buyer	#
Overall	3 of 3
Sector: Distribution	1 of 1
Type: Add-on Acquisition	3 of 3
State: Montana	1 of 1
Country: United States	2 of 2
Year: 2023	1 of 1

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2022-01-28	Tokico Kanagawa, Japan Tokico engages in the development, manufacture, and sale of measuring and instrumentation equipment, as well as design, construction, and maintenance of energy stations and plants. Tokico was established in 1937 and is based in Kanagawa, Japan.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2022-01-28

Tokico

Kanagawa, Japan

Tokico engages in the development, manufacture, and sale of measuring and instrumentation equipment, as well as design, construction, and maintenance of energy stations and plants. Tokico was established in 1937 and is based in Kanagawa, Japan.

Buy

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