Praxair buys offshore gases supplier

DANBURY, Conn.—Praxair Offshore Services Ltd., a subsidiary of Praxair, Inc., has acquired Dominion Technology Gases Investment Ltd., a supplier of diving, welding, industrial, laboratory and calibration gases based in Aberdeen, Scotland.

Financial terms of the transaction were not disclosed.

Dominion, already a distributor of Praxair gases, serves the growing global offshore oil and gas exploration and production markets from locations near several key offshore facilities.

Dominion is expected to generate full-year sales in 2013 of approximately $55 million. Established in 1988, the company was majority-owned by Graphite Capital, a UK mid-market private equity firm.

Praxair, Inc. is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2012 sales of $11 billion.