Messer has secured €2.45bn ($2.63bn) in long-term financing to support its growth strategy, following a strong full-year performance at the privately owned industrial gas major.
The funding includes €1.3bn ($1.4bn) from private placements and €1.15bn ($1.23bn) in promissory notes arranged in 2024. Proceeds were used to fully refinance loans related to the 2019 Messer Industries acquisition, with the company also reporting lower financing costs as a result.
After capital expenditure of around €900m ($970m) during the year, Messer ended 2024 with approximately €500m ($540m) in cash, plus net debt of €3.6bn ($3.87bn).
The refinancing supports the company’s ongoing infrastructure investments, including a recently announced €60m ($64m) air separation unit at North Sea Port in Belgium.
Scheduled to begin operations in 2026, the facility will supply nitrogen, oxygen and argon to industrial customers in the Benelux region and northern France.
Messer also finalised its buy-out of the former US Federal Helium Reserve in Texas, acquiring the Cliffside Field, its wells, a 423-mile crude helium pipeline, and other key assets. The company had operated the enrichment unit under a temporary federal agreement for two years prior to the deal.
The detail was released along with full-year 2024 results that saw Messer post sales of €4.5bn ($4.84bn) and earnings before tax and asset depreciation of €1.4bn ($1.5bn).
