WOODCLIFF LAKE, N.J. — Refrigerant company Hudson Technologies Inc. has acquired Refrigerants Inc., a refrigerant reclaimer and refrigerant distributor based in Denver, Colorado. The initial purchase price of $2.5 million is subject to customary post-closing adjustments.
With more than two decades in the industry, Refrigerants Inc. offers a full range of refrigerant lifecycle management services, including refrigerant buyback, sales and distribution, cylinder exchange, onsite recovery, and reclamation, a press release from Hudson said.
“Our acquisition of Refrigerants Inc. is consistent with previous accretive acquisitions that have delivered organic growth in our core refrigerants reclamation business by expanding access to repeatable sources of recovered refrigerant,” said Kenneth Gaglione, Hudson’s president and CEO. “The Refrigerants Inc. acquisition is immaterial to our financial results but expands our reach in key markets for both refrigerant sales and the aftermarket supply chain of recovered refrigerant that is essential to the practices of reclamation and responsible refrigerant management.
“The AIM Act’s continued phase-down of the supply of virgin HFC refrigerants, with a significant reduction scheduled for 2029, makes the aftermarket supply chain of HFC refrigerants even more critical,” Gaglione continued. “Refrigerants Inc. has been a valued partner of Hudson’s for many years and brings in a large and longstanding customer base of contractors, which will allow us to expand our access to field technicians who are recovering and returning aftermarket refrigerant and to grow our recovered refrigerant volume.”
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