Private Equity: Praxair Acquires NuCO2 for $1.1B
NuCO2 provides carbonation for fountain beverages to the restaurant and hospitality industries
Praxair Inc. (NYSE: PX) will acquire NuCo2 Inc. from private equity firm Aurora Capital Group for $1.1 billion.
NuCO2 provides beverage carbonation for fountain beverages to the U.S. restaurant and hospitality industries. The company had 2012 sales of $11 billion.
The Stuart, Fla-based company is expanding its product offerings to include nitrogen generators and blending control systems for craft beers on tap.
Praxair, headquartered in Danbury, Conn., makes specialty gasses, pipeline networks and air separation plants.
The move was announced in the midst of a nationwide boom in craft beers. As of October 2012, the sector saw a sales increase of 12 percent in the first half of 2012, according to the Brewers Association, which represents craft brewers.
Aurora is a Los Angeles-based firm that manages more than $2 billion in capital. The firm’s portfolio companies include Ames Taping Tools, DuBois Chemicals and RecoverCare.
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