Airgas, Inc. yesterday completed the acquisition of three related companies in southern California, notably Gordon Woods Industrial Welding Supply, Inc., Accu Air Gases & Equipment, and Summit Gas & Gear, LP.
The three companies are related but separately managed industrial gas and welding supply distributorships, with combined annual revenues of $25m, through 10 locations in southern California.
All three businesses are now part of the Airgas West regional company, and represent further additions to what is already a robust network of gas companies and distributors.
Glen Irving, President of Airgas West, enthusiastically explained the acquisition, “We are pleased to welcome the management team and about 80 employees from Gordon Woods Industrial Welding Supply, Accu Air Gases & Equipment and Summit Gas & Gear to Airgas West.”
“All three companies enjoy good reputations and strong customer relationships in Los Angeles, Santa Barbara, and Ventura counties. Combining the talented leadership and customer service expertise we’re gaining with Airgas’ broad array of resources will enhance the value we bring to customers.”
With headquarters in North Hollywood, California, Gordon Woods was formed in 1979 by James Clune and was most recently owned by sons Bill and Gordon Clune. Accu Air was formed in 1999 by Gordon Woods and Ron Johnson to start up industrial, medical and specialty gas operations in the Ventura and Santa Barbara counties.
Completing the trio, Summit Gas & Gear was organised in 2003 when Summit Gas & Gear, LP purchased the business from Martin Shober, who continued as a partner and managed the sales and operations of Summit. Both Johnson and Shober will now hold leadership roles within Airgas West.
Meanwhile through a separate transaction, Airgas has acquired TexAir Welding Supply, Ltd. (TexAir), an industrial gas and welding supply distributor with $5m in annual revenues through branch locations in Henderson, Longview and Mount Pleasant, Texas.
The company, which was founded in 1998 and has been operated by Kevin Curbo, will be integrated into Airgas Mid South, one of the regional companies within Airgas.
“The acquisition of TexAir Welding Supply expands our geographic footprint in east Texas, and enhances our ability to serve customers in that area. We are fortunate to welcome Kevin Curbo and approximately 20 employees to the Airgas Mid South team,” commented Terry Lodge, President of Airgas Mid South.
In addition to the Gordon Woods and TexAir transactions, Airgas has completed four other acquisitions during this quarter while since the beginning of its fiscal year in April, the company has successfully completed 12 transactions with acquired annual revenues of approximately $185m.