M&A Deal Summary

Plug Power Acquires Applied Cryo Technologies

On October 14, 2021, Plug Power acquired manufacturer Applied Cryo Technologies

Acquisition Highlights
  • This is Plug Power’s 1st transaction in the Manufacturing sector.
  • This is Plug Power’s 1st transaction in the United States.
  • This is Plug Power’s 1st transaction in Texas.

M&A Deal Summary
Date 2021-10-14
Target Applied Cryo Technologies
Sector Manufacturing
Buyer(s) Plug Power
Deal Type Add-on Acquisition

Target

Applied Cryo Technologies

Houston, Texas, United States
Applied Cryo Technologies is a manufacturer of highly engineered equipment servicing multiple applications throughout the Industrial Gas and Energy industries. ACT is a provider of technology, equipment, and services for the transportation, storage, and distribution of liquified hydrogen, oxygen, argon, nitrogen, and other cryogenic gases. Applied Cryo Technologies was founded in 2012 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Plug Power

Latham, New York, United States
Category Company
Founded 1997
Sector Electronics
Employees3,868
Revenue 891M USD (2023)
DESCRIPTION

Plug Power provides an alternative energy technology and deployment of clean, reliable, on-site energy products, currently integrates fuel cell technology into backup power products for telecommunications, utility and uninterruptible power supply applications. Plug Power was founded in 1997 and is based in Latham, New York.

DEAL STATS #
Overall 2 of 4
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Texas) 1 of 2
Country (United States) 1 of 2
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-13 Cellex Power Products

Richmond, British Columbia, Canada

Cellex Power Products, Inc. is a private company provides fuel cell power solutions for lift trucks and other material handling equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-09 Frames

Alphen aan den Rijn, Netherlands

Frames designs build and deliver processing equipment, separation technologies, flow control & safeguarding systems, renewable energy, and water solutions. Frames was founded in 1984 and is based in Alphen aan den Rijn, Netherlands.

Buy -
Mergr

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