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Taronis Technologies

Los Angeles acquisition completes platform

Update | General Industrials | 28 Feb 2019

Taronis Technologies (formerly MagneGas) has completed the acquisition of one of the largest independently owned industrial gas distributors in Los Angeles, California, for $2.5m, payable in cash. The business adds $4.5m annualised sales, five depots in the Los Angeles area and a sales route to the Baja California and Sonora regions of Mexico. Importantly it completes the first phase of the acquisition programme initiated in 2017, creating a platform that management intends to deliver at least $100m revenues within five years.

Taronis Technologies

Bolt-on acquisition to improve margins

Update | General Industrials | 21 Feb 2019

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.

Taronis Technologies

Good start to FY19 sales

Flash note | General Industrials | 15 Feb 2019

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.

Taronis Technologies

Continuing with build-and-buy strategy

Update | General Industrials | 05 Feb 2019

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 help commercialise its proprietary technology for renewable fuel gasification and water decontamination.

Taronis Technologies

Executive interview – MagneGas Applied Technology Solutions

Edison TV: | General Industrials | 24 Jan 2019

Scott Mahoney, CEO of MagneGas Applied Technology Solutions, begins this interview by describing how the company has developed an environmentally cleaner, safer and smarter industrial cutting fuel. He reviews the progress being made on a programme with the US Department of Agriculture to sterilise waste from farm animals and a development initiative to generate cutting gas from medical waste streams. He concludes by commenting on management's goal to become one of the top three providers of industrial cutting gases in the key markets of California and Texas and explaining how the recent fund-raising activity supports this.

Taronis Technologies

Extending retail platform in Greater Texas

Update | General Industrials | 28 Nov 2018

MagneGas's Q318 results show the beneficial impact of the three acquisitions made earlier this year, with revenues trebling to $2.6m. Management continues to pursue this ‘buy-and-build' strategy, recently completing three small acquisitions that strengthen its retail network in the key Greater Texas region. As management held back on sales recruitment in anticipation of these transactions, organic growth was muted over the summer so we leave our estimates broadly unchanged.

Taronis Technologies

Acquisitions drive trebling in revenue

Update | General Industrials | 20 Aug 2018

MagneGas’s Q218 results show the transformative effect of the three acquisitions that were made earlier in the year. Sales trebled year-on-year, but as the annualised revenue run-rate achieved in May has not been maintained, we revise our FY18 estimates downwards.

Taronis Technologies

Securing future through sales of cutting gas

Initiation | General Industrials | 19 Jun 2018

MagneGas has recently been transformed through three acquisitions. This has created a platform for selling its alternative metal cutting fuel in California and Texas, which are the two largest consumers of metal cutting fuel in the US. Cash generated from gas sales will be used to commercialise its proprietary technology for plasma sterilisation and gasification of waste.