nexAir Announces Sale of Beverage Division
Memphis, Tenn., Dec. 31, 2008 - Memphis-based nexAir, one of the largest distributors of atmospheric gases and welding supplies in the United States, announced today it has sold its beverage division. The division was bought by NuCO2, a beverage gases distributor headquartered in Stuart, Fla.
nexAir’s beverage division, part of the company for almost 25 years, served a 14-state area. According to company leadership, the decision to sell the division was made largely due to a desire to focus on core services and products and in order to fit the overall strategic plan for 2009. The beverage division brought in around $13 million of the total $110 million revenue for the company annually.
NuCO2 will continue to provide beverage gases services to customers in all markets served by nexAir. A majority of the division’s 50 employees will transition to positions at NuCO2, with some moving immediately to other roles within nexAir.
“This was just the right decision on many levels,” said Kevin McEniry, chief executive officer of nexAir. “We have found the perfect partner to continue serving our customers’ needs. NuCO2 has a client service approach and quality philosophy that mirror ours here at nexAir, and we know our beverage division customers will be in good hands. Also, we feel confident that our employees moving to NuCO2 will be valued and have a great opportunity to continue their careers.”
nexAir is one of the largest distributors of atmospheric gases and welding supplies in the United States. Based in Memphis, the company sells, packages and distributes atmospheric gases, including medical, specialty, industrial and welding gases. nexAir also sells related products, including specialized medical and welding equipment, as well as dry ice. Founded in 1940, nexAir operates in seven states with 21 locations and 300 employees.
For more information, contact:
Crissy Smith
Obsidian Public Relations
Phone: (901) 461-3139
E-mail: crissy@obsidianpr.com