Hudson Technologies, Inc. has recently made an accretive acquisition of Refrigerants Inc. for an initial purchase price of $2.5 million. This move is expected to expand Hudson's access to recovered refrigerant sources and increase its geographic footprint.
Refrigerants Inc. offers various refrigerant lifecycle management services, including refrigerant buyback, sales and distribution, cylinder exchange, onsite recovery, and reclamation. This acquisition is anticipated to support Hudson's core refrigerants reclamation business and provide access to repeatable sources of recovered refrigerant.
The acquisition of Refrigerants Inc. is considered to be immaterial to Hudson's financial results, but it is expected to contribute to the company's growth in the reclamation industry and expand its access to field technicians who recover and return aftermarket refrigerant. This is particularly significant in light of the AIM Act's continued phase-down of the supply of virgin HFC refrigerants, with a significant reduction scheduled for 2029.
Hudson Technologies' President and CEO, Kenneth Gaglione, emphasized the importance of the aftermarket supply chain of HFC refrigerants and highlighted Refrigerants Inc.'s valuable partnership with Hudson over the years. He expressed excitement about welcoming the Refrigerants Inc. team to Hudson and leveraging their expertise to drive growth and expand the company's leadership position in the reclamation industry.
Hudson Technologies, Inc. is a leading provider of innovative and sustainable refrigerant products and services to the heating, ventilation, air conditioning, and refrigeration industry. The company has demonstrated commitment to its customers and the environment by becoming one of the first and largest refrigerant reclaimers in the United States.
Today the company's shares have moved 0.0% to a price of $7.41. For the full picture, make sure to review HUDSON TECHNOLOGIES INC /NY's 8-K report.
