Tech Air, a Connecticut-based distributor of industrial, medical, and specialty gases and related welding supplies, announced today that it has acquired Mobile, AL-based L&M Welding Supply, Inc. (“L&M”).
L&M Welding Supply is a leading distributor of welding supplies and industrial equipment to the Military, shipbuilding, and power industries on the Gulf Coast.
L&M will become part of Tech Air’s Southern Region and the former owner, Clark Kelly, will remain actively engaged with the company. L&M is Tech Air’s eighth add-on acquisition in the last twelve months, and the fourteenth add-on acquisition since CI Capital acquired the company in partnership with Tech Air’s management in 2010.
Tech Air now operates through 30 branch and fill plant locations and serves customers in the Northeast, South, Southwest and West.
Myles Dempsey, Jr., Chief Executive Officer of Tech Air, said, “We are thrilled to announce the addition of L&M Welding Supply to the Tech Air family of companies. Clark Kelly has built an impressive business and a highly respected team that will enhance Tech Air’s Southern Region.”
“L&M is known for outstanding customer service and technical capabilities and will benefit from Tech Air’s commitment of growth capital, access to a broad base of suppliers and administrative and operational support. We remain committed to our strategy of acquiring high quality regional distributors throughout the continental United States and are actively seeking additional acquisitions.”
“The joining of our small but customer-focused company with the resources and support of Tech Air’s entrepreneurial leadership is a great result for both the employees and customers of L&M,” said Clark Kelly, President of L&M Welding Supply.
“We look forward to working with Tech Air as we continue to build our business in the Gulf Coast and look to expand our offering to gases and other products.”
Joost Thesseling, Managing Director at CI Capital Partners, said, “We are very proud of Tech Air’s ability to form partnerships with the owners of other industrial gas distributors and successfully execute its acquisition strategy. With fourteen acquisitions completed, we are very pleased with the company’s progress and will continue to support Myles and the rest of the Tech Air team as they continue to execute their growth strategy.”
Tech Air is owned by CI Capital Partners and Tech Air management.