Michael Grundei

Wiggin and Dana Advises Hudson Technologies, Inc. in $220 million Acquisition of Airgas-Refrigerants, Inc.

October 27, 2017

Wiggin and Dana LLP advised Hudson Technologies, Inc. in its $220 million acquisition of Airgas-Refrigerants, Inc. ("ARI"), a subsidiary of Airgas, Inc., an Air Liquide company and leading U.S. supplier of industrial gases. The transaction closed on October 10, 2017.

The definitive purchase agreement for the stock purchase was signed on August 9, 2017. The acquisition, which represents Hudson's largest acquisition to date, was financed in part through approximately $185 million of new debt financing from PNC Bank and funds advised by FS Investments and sub-advised by GSO Capital Partners LP. Wiggin and Dana represented Hudson on both the M&A transaction and the debt financings.

Hudson Technologies, Inc. (NASDAQ:HDSN) is a leading provider of innovative and sustainable solutions for optimizing performance and enhancing reliability of commercial and industrial chiller plants and refrigeration systems. In addition, Hudson sells refrigerants and provides traditional reclamation services for commercial and industrial air conditioning and refrigeration uses.

The Wiggin and Dana acquisition team was led by corporate partner Michael Grundei and included Mark Kaduboski, James Greifzu, Laura Sousa and RJ Kornhaas.

For more information about this acquisition, please click here.