Airgas to Acquire Kanox

Mar 23, 2005 2:34 AM  By

Radnor, PA-based medical and industrial welding metals conglomerate Airgas signed a letter of intent to acquire Hutchinson, KS-based Kanox, a distributor of packaged gases and welding hard goods. Airgas, which already owns 25% of Kanox’s outstanding stock, will buy the remaining shares it doesn’t already own.

Kanox, which operates nine locations in Colorado, Kansas, and Oklahoma, and employs about 120 people, generates about $23 million in revenue annually. The transaction is expected to close before mid-calendar-year, subject to customary closing conditions.