Italy-based industrial gas company SOL Group has expanded into Brazil’s industrial gases market with the majority acquisition of Industria Brasileira de Gases (IBG).
SOL Group said the 51% acquisition provides a platform to expand its technical gases business in Brazil through a newly formed joint venture.
The exact financial value of the transaction was not disclosed, although the company said it was completed at market value through IBJV Participacoes, a new joint venture owned 90% by SOL subsidiary Airsol and 10% by SIMEST.
The deal gives SOL a major presence in Brazil’s industrial gases market. In 2025, IBG generated gross sales of around €35m ($40m) and owns five air separation units, three carbon dioxide production plants, as well as acetylene and nitrous oxide production facilities and several filling stations.
“[The partnership] expands our current home care presence also in the technical gases sector,” said Aldo Fumagalli Romario, Chairman and Managing Director of SOL.
“Our goal is simple: to combine SOL’s advanced technology and solutions with IBG’s local market experience to accelerate IBG’s development.”
The remaining 49% stake will remain with IBG founder Newton de Oliveira, who will continue as Chairman and Managing Director alongside SOL-appointed Managing Director Renato Imeri.
IBG’s facility in Jundiaí, in the State of São Paulo ©IBG
The partnership builds on SOL’s existing presence in Brazil’s home care market, where it has operated since 2015 through businesses including Global Care, Unit Care, Pronep, Relief Hospitals, Oxigenar and Vivisol Brazil.
Marco Annoni, Vice Chairman and Managing Director of SOL Group, said the acquisition formed part of the company’s continued investment in medical and industrial gases.
“We believe our combined strengths will accelerate our market growth in Brazil,” he said, adding that the company was pleased to welcome IBG’s management team and employees to the SOL Group.
De Oliveira said the partnership would strengthen IBG by enabling the transfer of technology across multiple areas of the business, supporting its long-term growth.
He added that the joint venture would allow the company to offer more competitive and differentiated solutions while creating new opportunities for employees.
