Matheson Tri-Gas, Inc. has successfully completed the purchase of Five Star Gas & Gear Inc. of Los Nietos, California and added five new branches to the company’s growing network, with the acquired company to become a part of the Matheson Tri-Gas Industrial Gas Group business unit.
The transaction involves all of Five Star’s assets and employees, with Kirk Merica set to retain his general management responsibilities for Five Star Gas & Gear, now as part of Matheson Tri-Gas.
William J. Kroll, Chairman, President & CEO of Matheson Tri-Gas Inc. and Executive Director of Taiyo Nippon Sanso Corporation, parent Company of Matheson Tri-Gas Inc. stated, “This acquisition is consistent with Taiyo Nippon Sanso’s and Matheson Tri-Gas’ focused strategy to expand our presence in the US Market. Proactive acquisition of strong distribution channels like Five Star is clearly one of the ways we intend to do this. This acquisition highlights our position as a vertically integrated supplier of bulk, packaged and specialty gases in this market and supports our recent investment in our new air separation unit for bulk liquid at Vernon, California.”
According to Steve Foster, Corporate Vice President for Corporate Business Development at Matheson Tri-Gas, “The acquisition of Five Star is important as it provides us with needed distribution capabilities for packaged and specialty gases throughout Southern California. We believe that the acquisition will benefit the customers of both organizations.”