Posted October 23, 2018

MagneGas acquires Paris Oxygen

MagneGas Applied Technology Solutions announced the acquisition of Paris Oxygen Company, an independent industrial gas and welding supply distributor based in Paris, Texas.

This transaction, priced at $1.25 million, paid in cash at closing, builds on MagneGas’ acquisition strategy and further expands the company’s geographic footprint in northeast Texas along a significant industrial corridor. Earlier in the year, MagneGas acquired Green Arc Supply, launching its first commercial presence in Texas and this new acquisition further cements MagneGas’ reach in the state.

Based in Clearwater, Florida, MagneGas is a clean technology company in the renewable resources and environmental solutions industries.

“We are pleased to expand our operational capabilities in one of the best markets in the U.S.,” said Ermanno Santilli, CEO of MagneGas. “Texas is an extremely robust market for industrial gases, particularly metal cutting fuels. Acquiring many new customers in a large batch that we can systematically convert to MagneGas2 is a powerful competitive advantage. As the world’s only renewable metal cutting fuel, we can effectively build a permanent competitive barrier around our acquired customer base simply through superior product quality. Leveraging our expanded sales team to organically grow thereafter is a very compelling growth strategy for 2019 and beyond.”