Fluitron, an industrial gas compression manufacturer, has acquired Bethlehem Hydrogen (BHI), a manufacturer of integrated hydrogen compression, dispensing, and storage systems.
Ara Partners (Ara), a private equity firm focused on industrial decarbonisation, sponsored Fluitron’s acquisition. Terms of the transaction have not been 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 refuelling 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,” says 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, customised hydrogen technology solutions for energy storage and use in diverse markets,” says 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,” says 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 decarbonisation.”