AirPower Technologies’ Acquisition of Smart-Gas Pte.

Allen & Gledhill assisted AirPower Technologies Limited on the share acquisition of Smart-Gas Pte. Ltd. Tardis Capital advised the shareholders of Smart Gas.

PAG-backed AirPower Technologies, an independent supplier of industrial gases based in China, has made a strategic investment in Smart Gas Pte. Ltd., a Singapore-based, crossborder industrial gases distributor.

Under the agreement, the current shareholders and executives of Smart Gas will remain in their current roles, with additional roles to be appointed and functions to be augmented by AirPower Technologies.

Commercial terms of the deal were not disclosed.

AirPower Technologies is the largest independent industrial gases supplier in China by revenue, with operations spanning China, India and South-east Asia.

Founded in 2004, Smart Gas is a crossborder industrial gases distributor in the APAC region with a fleet of over 300 ISO tanks as well as ISO tubes. The company procures and distributes liquefied gas products and provides an end-to-end delivery solution to major industrial gases suppliers, gas distributors/re-fillers, and end-users.

The Allen & Gledhill team consisted of Partners Christian Chin (Picture), Nicholas Soh and Shalene Jin.

Involved fees earner: Shalene Jin – Allen & Gledhill LLP; Christian Chin – Allen & Gledhill LLP; Nicholas Soh – Allen & Gledhill LLP;

Law Firms: Allen & Gledhill LLP;

Clients: AirPower Technologies;

Sonia Carcano

Author: Sonia Carcano