M&A Deal Summary

PAG Acquires AirPower Technologies

On July 1, 2021, asset manager PAG acquired chemicals company AirPower Technologies

Acquisition Highlights
  • This is PAG’s 3rd transaction in the Chemicals sector.
  • This is PAG’s 5th transaction in China.

M&A Deal Summary

Date 2021-07-01
Target AirPower Technologies
Sector Chemicals
Buyer(s) PAG
Deal Type Buyout (LBO, MBO, MBI)

Target

AirPower Technologies

Hong Kong, China
AirPower Technologies is an independent supplier of industrial gases. AirPower Technologies supplies a wide range of gases products and solutions to blue-chip industrial customers, as well as customers in healthcare and electronics industries. AirPower Technologies is based in Hong Kong, China.

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Buyer(S) 1

Buyer

PAG

Hong Kong, China

Investor Investor Investor


Category Asset Manager
Founded 2002
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

PAG is a large independent alternative investment management group focused on private equity, real estate, and absolute returns. PAG’s private equity business, PAG Asia Capital or PAGAC, focuses on large-scale buyouts, control deals, and structured minority investments. PAG’s real estate strategy manages a series of real estate opportunity and core plus funds investing in properties in Japan, China and throughout Asia-Pacific. PAG’s absolute return business focuses on building long term relationships with its partners by offering a flexible range of financing solutions to meet short and long term funding needs. PAG was formed in 2002 and is headquartered in Hong Kong.


DEAL STATS #
Overall 11 of 25
Sector (Chemicals) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 5 of 9
Country (China) 5 of 11
Year (2021) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Shanghai Baosteel Gases

Shanghai, China

Shanghai Baosteel Gases is an industrial gas service provider in China. Shanghai Baosteel Gases was founded in 2008 and is based in Shanghai, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-22 Acme

Solan, India

Acme provides contract development and manufacturing services to major Indian and global pharmaceutical companies. The firm focuses on products such as sterile injectables, hormones, and other complex oral solid formulations. Acme was founded in 2005 and is based in Solan, Himachal Pradesh.

Buy $145M