About

• Independent global blender, re-packer and distributor of specialist gasses to the refrigeration and insulation foam industries
• Focused on environmentally acceptable replacement products for chlorofluorocarbon (CFC / HCFC) gases and liquids
• Global reach with substantial operations in UK, Australia, South Africa, Asia and the US

Why we invested

• Investment rationale based on a strong management team who built a global business that dominates its chosen markets with high barriers to entry
• Operates in a highly regulated speciality gasses market, which is underpinned by legislation and regulation. Environmental initiatives at a government policy level are driving demand for A-Gas’s core products and services
• The deal dynamics were ideal with an opportunity for the next tier of management to participate in the equity of a fast growing business, whilst maintaining the strategic expertise and entrepreneurial flair of the founder, John Rutley

How we are making a difference

• Provided management with a flexible funding structure to enable them to take the business onto the next stage of development
• Supported the strategic positioning of the business through developing new international markets and continuing to anticipate the worldwide regulatory changes that drive demand
• GCP led the exit process and was actively involved in the strategic direction of the business. A-Gas was sold to LDC in a tertiary buyout

Several factors influenced our decision to work with GCP: the rapid completion time; a great relationship; their deep understanding of our business, the deal structure and their empathy with us.

John Rutley Executive Chairman, A-Gas