Transaction

The shareholders of Cryogenic Industries Group, headquartered in Temecula, California, USA and Basel, Switzerland, have sold 100% of their shares to Tokyo Stock Exchange listed Nikkiso Co., Ltd. in a succession scenario. The manufacturer of cryogenic machinery, heat transfer equipment, and process plants for applications in the industrial gas, LNG and energy markets was valued at a total consideration of USD 380m.

Company

For more than 40 years, Cryogenic Industries has developed and manufactured through its subsidiaries ACD, Cryoquip and Cosmodyne, cryogenic pumps, heat exchangers and plants for the liquefaction and separation of gases. Subsidiaries and service centers in 13 countries supply customers operating in the industrial gas, LNG and energy markets. Cryogenic Industries achieved LTM revenues of USD 156m and an EBITDA of USD 13m.

For additional information on Cryogenic Industries: www.cryoind.com