Germany’s Messer, CVC Capital Partners Fund VI to buy Linde’s gas business

German chemicals company Messer and Luxembourg-based private equity fund CVC Capital Partners Fund VII have concluded an agreement to acquire Munich-based Linde's gas business in North America and certain business activities in South America for $3.3 billion.

Messer Group expects to return to the North and South American markets and create a global player in the industrial gases sector. The joint venture between Messer and CVC Fund VII will be named MG Industries and will operate under the Messer brand.

The acquired North and South American companies generated 2017 revenues of $1.7 billion and earnings before interest, taxes, depreciation, and amortization of just over $360 million. Messer achieved a 2017 revenue in excess of $1.39 billion.

In 2004, the Messer Group sold its North American holdings to the French industrial gases and services provider Air Liquide SA.