Subsequent Event

6 Months Ended

Jun. 30, 2017

Subsequent Events [Abstract]

Subsequent Event

Note 9- Subsequent Event 

On August 9, 2017, the Company entered into a definitive agreement to acquire Airgas Refrigerants, Inc. (“ARI”), a subsidiary of Airgas, Inc., a leading US supplier of industrial gases, in a transaction valued on a gross basis at approximately $220 million, subject to closing and post-closing adjustments.  ARI is a leading refrigerant distributor and EPA certified reclaimer in the U.S.  ARI distributes, reclaims and packages refrigerant gases for a variety of end uses. 

The acquisition will be financed with available cash balances plus borrowings under an enhanced asset based lending facility from PNC Bank of up to $150 million and a new term loan from GSO Capital Partners LP of between $95 million and $110 million. No additional Hudson equity will be issued to finance this transaction.

The acquisition of ARI is subject to customary closing conditions, including the consummation of the contemplated debt financing, and the expiration or termination of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act, and is currently expected to close during 2017.