05 February 2013 12:49 [Source: ICIS news]
LONDON (ICIS)--Praxair is to acquire beverage carbonation services company NuCO2 from private equity firm Aurora Capital Group for $1.1bn (€814m), the US-headquartered industrial gases company said on Tuesday.
The all-cash deal is expected to close in the first quarter of 2013, Praxair added. Specialising in carbonation solutions for fast food restaurants and convenience stores, NuCO2 serves 162,000 locations in the US, and employs 900 people.
The company is expected to generate full-year sales of $250m in 2013, with earnings before interest, taxation, depreciation and amortisation (EBITDA) of $115m over the same period.
Praxair predicts that the acquisition will have a neutral-to-positive impact on the company’s earnings per share for 2013.
($1 = €0.74)
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