DANBURY, Conn.—Industrial gas supplier Praxair Inc. said Tuesday that it bought American Gas Group, a gas supply company with 56 workers and annual revenue of $28 million.
Terms of the deal were not disclosed. American Gas Group has facilities in Toledo, Ohio, and Wheeling, Ill.
The sale comes soon after the Oct. 4 death of American Gas Group CEO Ron Corns. Corns, 48, died of injuries related to a motorcycle crash, according to an obituary in the Blade newspaper in Toledo. The deal with Praxair had been under discussion for years, said John Armelagos, an owner of American Gas Group.
"Ron was instrumental in developing and fostering the relationship with Praxair and was excited by the vision of what our two organizations could achieve together," Armelagos said in a written statement.
Praxair shares fell $3.14, or 3.1 percent, to close at $98.53.
