At what enterprise value was LINDE GASES acquired in 2018?

During the acquisition of LINDE GASES by MESSER GROUP / CVC in 2018, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 3b - 100b USD. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Industry & Manufacturing industry currently tracks an average EBITDA multiple of 11.4x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of LINDE GASES when it was acquired by MESSER GROUP / CVC?

The estimated EV/EBITDA multiple for LINDE GASES is in the range of 5x - 12x. For comparison, the Industry & Manufacturing sector currently shows an average EBITDA multiple of 11.4x. Join our community for free to access full valuation data and industry trends.

When was LINDE GASES acquired by MESSER GROUP / CVC?

LINDE GASES was acquired by MESSER GROUP / CVC in 2018.

What was the revenue of LINDE GASES at the time of the deal?

The revenue of LINDE GASES at the time of the deal is estimated to be in the range of 1b - 3b USD. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of LINDE GASES during the acquisition?

LINDE GASES's EBITDA is estimated to be in the range of 250M - 500M USD. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the LINDE GASES acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the LINDE GASES deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.cvc.com/media/news/2018/2018-07-16-messer-and-cvc-fund-vii-acquire-assets-in-the-americas-from-linde/

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Home Database Industry & ManufacturingLINDE GASES

07/2018

MESSER GROUP & CVC take majority stake in LINDE GASES

UNITED STATES Chemicals & Materials / Specialty Chemicals EV 3b - 100b USD

Context

Messer Group and CVC Fund VII have agreed to acquire the majority of Linde's gases business in North America together with selected activities in South America, forming a joint venture that will operate under the Messer brand. The assets, previously part of Linde AG, employ roughly 5,100 staff and include production plants, storage terminals, and on‑site gas generation units across the United States, Canada, Brazil, Argentina, and Chile. The agreement is contingent on regulatory clearance and the completion of the Praxair‑Linde merger, with approval required from competition authorities in the relevant jurisdictions. The acquisition enables Messer to re‑establish a direct presence in the American continents, complementing its existing European footprint and providing a platform for cross‑regional synergies. CVC contributes capital resources and a global network that can accelerate integration and growth, while the joint venture, named MG Industries, will combine Messer's engineering and application expertise with the acquired assets' market position. This structure aligns with Messer's strategy to build a globally integrated industrial gases provider and supports CVC's objective of creating value in a consolidated sector. Post‑closing, MG Industries will integrate the American operations with Messer's Western European businesses, creating a unified supply chain that spans production, logistics, and customer service. The combined entity is expected to leverage shared procurement, joint research and development, and coordinated sales efforts to broaden product offerings and improve service responsiveness. Anticipated outcomes include expanded market coverage, enhanced operational efficiency, and the ability to deliver comprehensive gas solutions to a diversified industrial client base across multiple continents.

LINDE GASES, which reported an EBITDA margin of LOGIN in 2017, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Industry & Manufacturing sector (11.4x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Linde Gases’ activities in North and South America encompass the production, storage, and distribution operations of industrial and medical gases across these regions. The business scope includes air separation units, specialty gas production facilities, bulk storage terminals, and on-site gas generation systems installed directly at customer locations. The portfolio includes oxygen, nitrogen, argon, carbon dioxide, hydrogen, and high-purity gas mixtures designed for industrial and medical applications. The solutions provided serve a diversified customer base, including automotive manufacturers, chemical and petrochemical companies, semiconductor producers, healthcare facilities, research laboratories, and food industry players. The gases supplied are used in a wide range of processes, including metal fabrication, chemical processing, electronics manufacturing, medical applications, and food preservation. The operating model relies on an integrated network combining centralized production infrastructure with regional distribution capabilities. Linde supplies its customers through various delivery models, including packaged gas cylinder deliveries, bulk liquid gas supply, pipeline networks directly connected to industrial sites, and integrated “gas-as-a-service” solutions.

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REFERENCES

Valuation range: EV 3b - 100b USD

Revenue range: 1b - 3b USD

EBITDA range: 250M - 500M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of LINDE GASES by MESSER GROUP / CVC are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: messer group / cvc