Air Liquide Expands Indian Horizons with NovaAir Acquisition

Air Liquide, a global leader in gases and technologies for industry and healthcare, has reached an agreement to acquire the Indian operations of NovaAir from PAG, an Asia-focused private equity firm. This move signals a significant investment in India's fast-growing industrial gas market and represents a strategic milestone for Air Liquide's growth agenda in the region.

Founded in 2019, NovaAir is renowned for its full-service industrial gases platform, which supplies bulk and critical specialty gases, alongside offering onsite services and EPC support throughout crucial industrial regions in East and South India. This acquisition will allow Air Liquide to strengthen its foothold across the country, enabling it to better serve various sectors including steel, automotive, electronics, and healthcare.

Emilie Mouren-Renouard, a member of Air Liquide's Executive Committee, highlighted the acquisition as a testament to their long-term commitment to India's industrial and healthcare advancement. Gajanan Nabar, CEO of NovaAir, expressed optimism about the enhanced value delivery to clients, thanks to the complementary strengths of both companies.