A local industrial gas publication is expanding into the American market after acquiring a US competitor.
Truro-based industrial gas magazine, gasworld, has secured a deal to purchase CryoGas International, expanding the existing business and creating a platform to further launch its services within the USA.
With a foothold already in the States with its specialist magazine, Speciality Gas Report, the acquisition will allow the business to further expand on its current successes and strengthen its existing team.
Commenting on the acquisition, John Raquet, CEO of gasworld, said: “I have had a great admiration of CryoGas International for many years. We considered ourselves as friendly competitors on the international scene and in the US.
“With this acquisition, we have the opportunity of merging the resources of CryoGas International to develop both magazines and provide an even more valuable news and information service for the North American industrial gases market, which is enjoying exciting times.”
gasworld, which is celebrating 100 issues of its global magazine this September, recently won the silver award for best International Business at Cornwall Business Awards in May this year.