Air Liquide has acquired NovaAir, an industrial gas producer in India, enhancing its market presence and capabilities in the growing Indian industrial sector.

Target Information

Air Liquide has announced its agreement to acquire NovaAir, a prominent industrial gas producer and supplier in India, from PAG, a private equity firm focused on the Asia region. Established in 2019, NovaAir offers a comprehensive range of industrial gases, including bulk industrial gases, specialty gases, onsite services, and Engineering, Procurement, and Construction (EPC) support. The company caters to various sectors such as steel, automotive, fabrication, electronics, photovoltaic, and healthcare, particularly in the key industrial regions of East and South India.

This acquisition of NovaAir strategically enhances Air Liquide's existing operations in the North and West of India. By doing so, it not only broadens Air Liquide's geographic reach but also strengthens its large project portfolio, managed by an adept team. This acquisition is viewed as a step forward in bolstering Air Liquide's position in the industrial merchant market, enabling better service delivery to sectors experiencing growth such as automotive, metals, electronics, and healthcare.

Industry Overview in India

The industrial gas sector in India has been witnessing robust growth, driven by the expanding manufacturing base and increasing demand across various sectors, including automotive and healthcare. The government’s initiatives to enhance infras