Table of Contents
Key Points
- Oak Heirs acquires 87.31% stake in Air Liquide Nigeria Plc, marking its entry into the industrial and medical gases sector.
- Deal ends Air Liquide’s phased exit from select African markets; legal advice provided by AELEX, a top commercial law firm.
- Acquisition expands Oak Heirs’ investment portfolio under Gbotemi Kuti, adding gases to its interests in real estate and food processing.
Oak Heirs Limited, an investment holding company based in Lagos and led by Nigerian business executive Gbotemi Kuti, has acquired a majority stake in Air Liquide Nigeria Plc, a well-known supplier of industrial and medical gases. The company is a subsidiary of Air Liquide Afrique S.A., the African arm of the French multinational group, Air Liquide.
The multimillion-dollar deal, now completed, saw Oak Heirs take over an 87.31 percent stake in Air Liquide Nigeria Plc. With this transaction, Oak Heirs assumes control of a company listed on the NASD OTC Securities Exchange and closes out Air Liquide’s phased withdrawal from select African markets.
Nigeria sees growth in medical gases
To finalize the transaction, Air Liquide Afrique S.A. was advised by AELEX, a leading commercial law firm with offices in Nigeria and Ghana. Air Liquide, a global player in gases and technologies for industry and healthcare, operates in 60 countries and serves more than 4 million customers and patients through a workforce of over 66,000 people.
By taking over Air Liquide Nigeria Plc, Oak Heirs is stepping into the industrial and medical gases space—an area with growing demand across healthcare, manufacturing, and energy sectors in Nigeria. The company produces and supplies gases such as argon, acetylene, nitrogen, nitrous oxide, and medical oxygen.
Oak Heirs portfolio grows under Gbotemi Kuti
For Gbotemi Kuti, this acquisition adds another chapter to a career defined by steady, hands-on growth. Before founding Oak Heirs in 2017, Kuti worked as associate director of design and construction at Plarc Consultants, where he led major projects for FCMB, Skye Bank, and Kakawa Discount House. He also helped expand the firm’s footprint into real estate with developments in Abuja and Lagos.
Since its inception, Oak Heirs has grown into a diversified investment firm with interests in real estate, food and beverage processing, and now industrial gases. The firm’s approach focuses on backing high-potential companies while providing operational support, strategic direction, and access to capital. The acquisition of Air Liquide Nigeria signals a bold move into a space Kuti sees as vital to Nigeria’s future.
