reports
- Anne Margaret Crow
Taronis Technologies - Bolt-on acquisition to improve margins
Taronis Technologies (formerly MagneGas) has announced its preliminary sales figures for January. In addition, it has acquired an unnamed industrial gas services business based in East Texas for $1.5m, payable in cash. The business adds more than $1m of high-margin service revenues annually and has the potential to cut around $50k of operating expenses each month from the existing operations in East Texas and Louisiana.
- Anne Margaret Crow
Taronis Technologies - Good start to FY19 sales
Taronis Technologies (formerly MagneGas) has announced its preliminary sales figures for January. These show the seven successive acquisitions made over the last year driving a fivefold year-on-year increase in monthly sales to $1.42m. Importantly, the figures show 42% growth compared with December, as activity has picked up after the holiday period.
- Anne Margaret Crow
Taronis Technologies - Continuing with build-and-buy strategy
Taronis Technologies (formerly MagneGas) has continued with its ‘buy-and-build’ strategy, recently completing the acquisition of one of the largest remaining independent industrial gas and welding supply distributors in East Texas for $2.5m in cash. Together with the acquisitions completed during 2018, this takes the group closer to achieving its goal of creating a profitable platform for selling metal-cutting gases and associated products. The cash generated from gas sales will be used to h...
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