- Air Liquide acquires NovaAir from PAG, expanding its presence in India.
- NovaAir, founded in 2019, supplies industrial and specialty gases in East and South India.
- The acquisition complements Air Liquide's operations in North and West India.
- Air Liquide has been active in India since 1992, focusing on industrial and medical gases.
Acquisition Overview
Air Liquide has entered into an agreement to acquire NovaAir, an industrial gas producer in India, from PAG, an Asia-focused private equity firm. This acquisition marks a strategic milestone in Air Liquide's growth in India.
NovaAir's Operations
Founded in 2019, NovaAir provides a full range of industrial gases, including bulk and specialty gases, and offers onsite services and EPC support. It operates in key industrial regions of East and South India, serving sectors such as steel, automotive, electronics, and healthcare.
Strategic Expansion
The acquisition complements Air Liquide's existing operations in North and West India, enhancing its geographical reach and strengthening its presence in the industrial merchant market. This expansion allows Air Liquide to better serve customers in the automotive, metals, electronics, and healthcare sectors.
Long-term Commitment
This move follows a series of investments by Air Liquide in India, highlighting the company's commitment to the country's long-term growth opportunities. Air Liquide has been active in India since 1992, focusing on industrial and medical gases, engineering services, and the development of specialty chemical ingredients.
