Refron and Airgas have signed a definitive agreement under which Airgas will acquire the assets and operations of Refron, a national reseller and distributor of refrigerants that also provides technical services and refrigerant reclamation services.
The transaction is expected to be completed by the end of July, subject to
regulatory approvals and closing conditions.
Refron, which generated sales of $93 million in 2007, will continue to go to
market as Refron, and will be integrated with Airgas’ existing refrigerant and
reclamation business into a new company, Airgas
Chuck Broadus, president of Airgas Specialty Products, has been named president
of Airgas Refrigerants, effective immediately.
Jay Kestenbaum, president of Refron, will become senior vice president for
product management, vendor relationship and marketing for refrigerants, and
Jerry Kestenbaum will continue as vice president of technology. Refron was
founded by the father of Jay and Jerry Kestenbaum in 1950.
Airgas Gas Operations Division President Ted Schulte will also become president
of Airgas Specialty Products.
For the full press release, readhere.