Worthington Acquires Amtrol
Worthington Industries announced has acquired Amtrol for approximately $283 million.
“Amtrol is a great addition to our company and I am pleased to welcome Amtrol employees,” said John McConnell, chairman and CEO of Worthington. “This acquisition aligns well with our core competencies in pressure cylinders and expands our product offerings to our wholesale and retail customers.”
Amtrol strengthens Worthington’s industrial gas and consumer products businesses and complements Worthington’s refrigerant cylinder manufacturing capabilities.
The acquisition combines two leaders in the U.S. and European LP Gas business, and adds water and well tank product lines to Worthington’s wholesale and retail consumer products portfolio. Amtrol and Worthington’s manufacturing operations share many similarities and have significant overlap in distribution channels, providing opportunities to enhance the value proposition to customers.
Operations in Rhode Island, Maryland and Kentucky produce refrigerant gas cylinders and ASME products for commercial and industrial applications. In our industry, Amtrol is well-known for residential well water and expansion tanks.