Nikkiso Co., Ltd. has announced its acquisition of Cryogenic Industries (CSA CSM), a group of product and service companies supporting both liquefaction and separation plants for air gases and small-scale plants for LNG liquefaction. The deal is worth an estimated $440 million and is expected to close in August.

Under the deal, Nikkiso will acquire a 100 percent stake in Cryogenic Industries AG (CIS), ACD LLC, Cosmodyne LLC, Cryoquip LLC and all company subsidiaries. In a statement, Nikkiso says it expects the combination of companies will create business synergy effects to improve products, services and network for services. Nikkiso says the move will also help expand its business into growing markets, like industrial gas, and clean fuel, including hydrogen.