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Linde Plc. Has Agreed to Acquire US Based Industrial Gas Company nexAir

nexAir, based in Memphis, Tennessee, is set to be acquired by Linde Gas & Equipment as per the report from The Daily Memphian, a Memphis-based news channel. The deal's financial terms were not revealed; however, the acquisition will likely be completed by the year's end. The deal still awaits the approval of Linde’s board of directors as well as the federal regulators but will be closing by the year-end.

According to the report, the president of nexAir, Bill Proctor, stated that he did not foresee the agreement to lead to layoffs as Linde does not hold a strong presence in the area. However, according to the report, the CEO of nexAir, Kevin McEniry, told The Daily Memphian that once the acquisition is finalised, he will be stepping down from his role, and the leadership of nexAir will be taken over by Proctor. nexAir will resume as a Linde Gas & Equipment region. Linde Gas & Equipment, a division of Dublin, Ireland-based Linde PLC., is among the largest gas companies.

nexAir is a specialist in packaging and distributing welding supplies and atmospheric gases across three divisions, including industrial, metal and carbonic, with carbonic concentrated on the preservation of food. According to the Memphis Business Journal, the deal's announcement that was made on October 11 was not the first time that Linde and nexAir closed a deal.

nexAir acquired Linde LifeGas along with its packaged gas product businesses from Linde Gas North America LLC in January 2020. 16 LifeGas branch locations all over the five Southern states, a production facility in Union City, Georgia and about 200 Linde Gas employees were included in the deal.

nexAir, which is among the largest privately controlled companies under its segment, was established in 1940 as Standard Welders Supply but was later sold in 1950. Standard Welders united with Mid-South Oxygen and formed nexAir in 1996. Presently, this family-run company, is in its third generation run with Kevin McEniry as the CEO. But, due to the acquisition, the roles and responsibilities of the company will be transferred to the company’s President, Bill Proctor.

Kevin McEniry stated in the news that his family, along with all the stakeholders at nexAir, constructed a great company with an established track record to create opportunities for the people and long-term customers. The company is proud of its 80-year run in the atmospheric gases industry's specialisation and its ability to incorporate its vast experience and turn it into a modern and innovative approach to doing business.

They are 100% secure in Linde's commitment to continue the trajectory and to propel nexAir to reach new heights of success. The merger's news arrived just three years before nexAir acquired the Linde LifeGas and packaged gas products businesses from Linde North America and will now function as 'nexAir Healthcare'.

According to Procurement Resource, Memphis, Tennessee-based nexAir, is set to be acquired by Linde Gas & Equipment by the end of the year. The deal still awaits the approval of Linde's board of directors as well as the federal regulators. The news of the acquisition arrived just three years before nexAir acquired the Linde LifeGas and packaged gas products businesses from Linde North America and will now function as 'nexAir Healthcare'.

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