Private equity company with focus on industrial decarbonization acquires compressor manufacturer
Released: October 7, 2021 at 5:00 a.m. CDT|Updated: 51 minutes ago
HOUSTON and IVYLAND, Pa., October 7, 2021 / PRNewswire / – Ara Partners (“Ara”), a private equity firm specializing in industrial decarbonization investments, announced today that it has acquired Fluitron Inc. (“Fluitron” or the “Company”). The terms of the transaction were not disclosed.
Based in Ivyland, Pennsylvania, Fluitron is a leader in the manufacture of industrial gas compression and dispensing equipment, including diaphragm compressors, pressure vessels, and other specialty products. Fluitron was founded in 1976 and has offices in Ivyland, and sells to customers all over the world, with its largest presences in The United States, Canada, India, China, Japan, and South Korea. Fluitron’s President, Anthony Chiccarine, and Vice President, Robert Chiccarine, Fluitron will continue to be owned by Ara.
Fluitron is well positioned for rapid growth in the years to come as the need for hydrogen infrastructure increases. Given the company’s close relationships with leading players in the hydrogen economy and its diverse range of products and aftermarket services, Ara and the management team plan to develop Fluitron into a leading global integrated hydrogen infrastructure platform.
“We believe in the potential of hydrogen to decarbonise multiple industries and Fluitron will play a key role in the energy transition,” said Tuan Tran, a partner at Ara Partners. “Fluitron has an exceptional track record of providing high quality compression equipment and services to its global customers, and its diaphragm compressor expertise enables it to capitalize on the demand for safe high pressure compression requirements for hydrogen delivery and storage. Tony and Bob are respected compression industry veterans , and we are confident that Fluitron will continue to expand at a rapid pace under her continued leadership. “
“For over 45 years Fluitron has offered our long-term customers tailor-made gas compression systems,” said Tony Chiccarine. âWe have worked on a record number of hydrogen compression products this year alone and are confident that Fluitron will continue to grow rapidly over the next ten years. Fluitron and Ara have a strong strategic alignment with our shared focus on the hydrogen economy, and this partnership will allow us to quickly scale a global one-stop-shop for hydrogen compression and storage infrastructure. “
“We are very impressed with the business Tony and Bob have built and the high levels of customer satisfaction they have maintained in both compression sales and aftermarket service,” said James Wang, Director at Ara Partners. “Fluitron has extremely talented and hard-working people, and the company’s collaborative and innovative culture sets them apart from their peers.”
“We are very excited to be working with Ara to accelerate our growth in the distributed hydrogen market,” said Bob Chiccarine. “In the next three to five years we plan to increase the production capacities of our site, increase the number of employees and expand our customer base in new locations and in the areas that we currently serve.”
About Ara Partner
Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial and manufacturing, chemicals and materials, energy efficiency and green fuels, and food and agriculture sectors to build companies that are making significant decarbonization. For more information on Ara partners, please visit www.arapartners.com.
Based in Ivyland, PA, Fluitron is a leader in the manufacture of custom gas compression equipment. Fluitron manufactures diaphragm compressors, pressure vessels and reciprocating compressors for industrial gas and hydrogen applications and offers aftermarket services including maintenance, repair and spare parts. Fluitron was founded in 1976 and currently operates worldwide and has its own manufacturing, engineering and design capabilities. More information about Fluitron can be found at www.fluitron.com.
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