A-Gas chief executive Andrew Ambrose said: “This is a fantastic addition to the A-Gas portfolio as we continue to expand across mainland Europe. Arthur Friedrichs Kältemittel is an industry leader in the automotive Original Equipment Manufacturing (OEM) sector and this will enable A-Gas to further strengthen its global presence in the latest generation refrigerant and reclamation marketplace.”
Jens Beneken, AFK managing director, added: “This is a significant milestone for both Arthur Friedrichs Kältemittel and A-Gas and we are excited to bring our industry expertise to A-Gas’ impressive global offering. Our ambitions and culture fit well with A-Gas and the success story of AFK can be continued into the future. With A-Gas we have found a strong international partner which fulfils all the prerequisites for the realisation of future opportunities and the potential of AFK and its highly qualified workforce.”
AFK, headquartered in Hamburg, employs approximately 30 people across two operating sites, and has revenues of approximately €40 million.
A-Gas has strategic growth plans in place for AFK, including investment in a new refrigerant reclamation facility, along with new employment opportunities, to support the growing demands of the European market.
This is A-Gas’ third acquisition of a refrigerants business since the mid-2017 investment in the company by private equity firm, KKR. A-Gas acquired Netherlands-based reclamation business, BTC, last year, as well as USA-based refrigerant reclamation specialist, Diversified Pure Chem, as part of a wider global growth plan.