Airgas To Acquire Refron
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 Refrigerants.
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, read here.