Corporate Finance Team advises Air Water Inc. on the acquisition of cryogenic equipment producer M1 EngineeringMay 16th 2023
Air Water Inc, global manufacturer and supplier of industrial gases, chemicals and related services has agreed a deal to acquire Bradford-based M1 Engineering (M1), a leading global provider of specialised cryogenic distribution equipment.
Established in 1973, M1 enjoys a renowned reputation for cutting edge cryogenic distribution technology and the manufacture of high capacity and fuel saving products. For over 45 years they have been supplying the leading air-gas companies around the world.
“North America and Europe are key growth areas for Air Water Inc. globally. Over the past 5 years, Air Water has made significant investments in cryogenic equipment producers acquiring Taylor-Wharton (TW), TOMCO2 Systems, Cryogenic Vessels Alternative (CVA), Cryofin, CO2 Air (equipment only), AMCS Corp and stake in Dohmeyer Cryogenics. M1 is strategically positioned, with the compliment of Taylor-Wharton’s advanced technology in hydrogen distribution and refuelling, to lead the build-out of the European Hydrogen Infrastructure that will be required to support the continued growth of Fuel Cell Electric Vehicles (FCEV) while further expanding the footprint in Microbulk, CO2, and atmospheric transports”, states Eric Rottier, COO of Air Water America and CEO of Taylor-Wharton and TOMCO2 Systems.
Jason Gill, Managing Director of M1 notes,
“In what is M1 Engineering’s 50th year anniversary of trading, this transaction marks a historic milestone for the company. We’re excited for the opportunity to collaborate and grow with the Air Water America team to further enhance our product offering in hydrogen as the European market continues to expand. This acquisition enables M1 to access greater resources, products, and technology that will continue the long tradition of superior quality and technology that the M1 brand represents.”
The MHA Corporate Finance team led by Corporate Finance Partner and Transaction Services Leader, Rob Dando alongside Corporate Tax Partner, Chris Denning delivered specialist financial and tax due diligence services to Air Water Inc to facilitate the acquisition deal.
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