With this coming together of Pentair and Union Engineering, we’re reflecting on not just another consolidation in the global gases business, but a union that exemplifies the shift in the carbon dioxide (CO2) market in recent years – from a cryogenically cool subject to an increasingly hot topic.
gasworld understood a major announcement was in the offing from Pentair, but could not have envisaged such a big deal. And yet, during these seemingly heady days of merger and acquisition (M&A) activity within the global industrial gases business, perhaps one should not have been surprised.
The CO2 business itself has been the subject of considerable consolidation in recent years, though largely in the North American market, where we have seen the acquisition of EPCO Carbon Dioxide Products, Inc. by Air Products and MATHESON’s takeover of Continental Carbonic, the number two supplier of dry ice in the region, to name just two headline deals. Cold Jet also revealed its acquisition of fellow dry ice specialist IceTech just last year.
The purchase of Union Engineering becomes the latest strategic move in an increasingly profitable business for the gases and engineering industries.
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