Wedoany.com Report-Oct. 28, Air Liquide S.A., based in Paris, announced an agreement to acquire NovaAir, a leading industrial gas producer and supplier in India, from PAG, an Asia-focused private equity firm. The acquisition marks a strategic step in Air Liquide’s expansion in India, strengthening its presence in key industrial regions.

Founded in 2019, NovaAir operates a full-service industrial gases platform, supplying bulk industrial gases, critical specialty gases, and providing onsite services and EPC (Engineering, Procurement and Construction) support. The company serves clients across the steel, automotive, fabrication, electronics, photovoltaic, and healthcare sectors, primarily in East and South India.

NovaAir’s operations complement Air Liquide’s existing footprint in North and West India, bringing an experienced team and a substantial project portfolio. The acquisition will expand Air Liquide’s geographical reach, enhancing its ability to serve customers in the growing automotive, metals, electronics, and healthcare industries, and reinforcing its position in the industrial merchant market.

This move follows a series of recent investments by Air Liquide in India, highlighting the Group’s commitment to long-term growth opportunities in the country. Air Liquide has operated in India since 1992, offering industrial and medical gases, engineering and construction services, cryogenic equipment manufacturing, medical systems for healthcare, and the development of specialty chemical ingredients.

Emilie Mouren-Renouard, member of Air Liquide’s Executive Committee overseeing activities in India, said: “This acquisition represents a new step in our development in India. It demonstrates our long-term commitment to supporting the country’s industrial and healthcare development. This acquisition will significantly enhance our capacity to serve customers from small and medium enterprises to large industrial players, across a wider geographic footprint. It is another illustration of the growth potential of the Group.”

The integration of NovaAir into Air Liquide’s operations will allow for coordinated delivery of industrial gases and related services across India, supporting both existing and new customers. By combining NovaAir’s regional expertise with Air Liquide’s global capabilities, the Group aims to drive operational efficiency, strengthen supply chains, and expand service offerings.

Through this acquisition, Air Liquide positions itself to leverage the continued growth of India’s industrial and healthcare sectors. The expanded network will facilitate faster project execution, improve access to high-quality gases and services, and support the adoption of innovative technologies across diverse industries.

Overall, the NovaAir acquisition reinforces Air Liquide’s commitment to India, extending its reach to East and South India, enhancing service capacity, and enabling the Group to support both small-scale and large industrial operations. This strategic expansion underscores Air Liquide’s long-term vision for sustainable growth in the Indian market and strengthens its role as a leading industrial gases provider in the region.