Oak Heirs Limited, an investment holding company led by Nigerian businessman Gbotemi Kuti, has acquired an 87.31% stake in Air Liquide Nigeria Plc, marking the company’s entry into the industrial and medical gases sector.

The deal, which finalises the phased exit of French multinational Air Liquide from select African markets, transfers control of the Nigerian subsidiary to Oak Heirs. Air Liquide Nigeria Plc is listed on the NASD OTC Securities Exchange.

“This acquisition marks a significant milestone for Oak Heirs,” Kuti said, describing the transaction as a strategic expansion into a sector with high growth potential.

“We believe the industrial and medical gases industry is vital to Nigeria’s healthcare, manufacturing, and energy needs.”

Legal advisory for the transaction was provided by AELEX, a top commercial law firm with offices in Nigeria and Ghana. Air Liquide Afrique S.A., the seller, is part of the global Air Liquide Group, which operates in 60 countries and employs over 66,000 people worldwide.
Air Liquide Nigeria produces and supplies gases such as oxygen, nitrogen, nitrous oxide, argon, and acetylene, serving clients in the healthcare and industrial sectors.

Founded in 2017, Oak Heirs has investments across real estate, food and beverage processing, and now industrial gases. Prior to establishing Oak Heirs, Kuti served as Associate Director of Design and Construction at Plarc Consultants, overseeing projects for FCMB, Skye Bank, and Kakawa Discount House.

“The acquisition fits squarely within Oak Heirs’ strategy of investing in essential industries with long-term value,” Kuti added. “We’re committed to strengthening the operations and expanding the reach of Air Liquide Nigeria.”