Fluitron Acquires Bethlehem Hydrogen to Build Global Platform of Hydrogen Infrastructure Solutions
Industrial gas compression manufacturer acquires integrated hydrogen compression, dispensing and storage provider
BOSTON and IVYLAND, Pa., Nov. 8, 2021 /PRNewswire/ -- Fluitron, Inc. ("Fluitron"), an industrial gas compression manufacturer, today announced that it has acquired Bethlehem Hydrogen, Inc. ("BHI" or the "Company"), a manufacturer of integrated hydrogen compression, dispensing, and storage systems. Ara Partners ("Ara"), a private equity firm focused on industrial decarbonization, sponsored Fluitron's acquisition. Terms of the transaction were not disclosed.
Founded in 2009, BHI maintains its headquarters in Northampton, PA and has an engineering office in Kochi, India. BHI manufactures its systems in both the United States and India and sells to customers globally. BHI's President, Tom Joseph, will serve as Vice President of Business Development at Fluitron.
Fluitron's acquisition of BHI marks the first step in building a global platform of hydrogen infrastructure and refueling solutions. Fluitron and BHI will work together to provide cost-competitive and high-quality integrated hydrogen compression, dispensing, and storage systems.
"We have been very impressed by BHI's track record over the past decade in providing cutting-edge integrated hydrogen systems," said Bob Chiccarine, Vice President at Fluitron. "BHI has many years of experience providing integrated hydrogen systems to customers around the world. The Company's strong institutional knowledge, global customer relationships, and talented group of employees will strengthen Fluitron and expand its geographic reach."
"For more than a decade, BHI has provided customers with engineered, customized hydrogen technology solutions for energy storage and use in diverse markets," said Tom Joseph. "We have a record sales backlog for hydrogen systems and look forward to working hand-in-hand with the Fluitron team to further cross-sell and deliver integrated solutions for our customers. Fluitron and BHI have strong strategic alignment with our shared focus on the hydrogen economy, and together we are positioned to be a market leader in distributed hydrogen infrastructure with Ara's support."
"We are delighted to welcome Tom Joseph and the exceptional team at BHI to Fluitron. The acquisition expands Fluitron's geographic reach in the Eastern Hemisphere and strengthens its engineering and manufacturing capabilities," said Tuan Tran, a Partner at Ara Partners. "The combined Fluitron and BHI platform will lead to increased value for customers and create a 'one-stop shop' for hydrogen infrastructure. The transaction underscores Ara's commitment to building market-leading companies that facilitate industrial decarbonization."
About Fluitron
Based in Ivyland, PA, Fluitron is a market leader in the manufacturing of customized gas compression equipment. Fluitron manufactures diaphragm compressors, pressure vessels, and piston compressors for industrial gas and hydrogen applications, and provides aftermarket services including maintenance, repairs, and spare parts. Founded in 1976, Fluitron currently operates worldwide and has in-house manufacturing, engineering, and design capabilities. For more information on Fluitron, please visit www.fluitron.com.
About Bethlehem Hydrogen
Based in Northampton, PA, BHI is a market leader in the production of customized integrated hydrogen compression, dispensing, and storage systems. BHI provides engineering and design services for hydrogen systems and assembles equipment at its facilities in the U.S. and India. Founded in 2009, BHI currently operates worldwide and has in-house manufacturing, engineering, and design capabilities. For more information on BHI, please visit www.bh2i.com.
About Ara Partners
Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that provide significant decarbonization impact. For more information on Ara Partners, please visit www.arapartners.com.
Contacts
Mark Semer / Alex Jeffrey
Gasthalter & Co.
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(212) 257-4170
SOURCE Ara Partners
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