Maine Oxy, which supplies industrial gases, specialty gases and welding materials, has merged with fellow US-based business Lynox Welding & Cleaning Supplies, enhancing its product offerings and customer service capabilities.
Under the terms of the agreement, Maine Oxy, which is headquartered in Auburn, Maine, will continue to operate in all current locations, but will now also operate at Lynox locations in Presque Isle, Hermon and Portland under the Maine Oxy name.
The partnership will bring more the total number of employees to more than 200 company-wide. Financial details of the deal were not disclosed.
Gene Lynch, President of Presque Isle-based Lynox, signified, “Both companies have considerable talent and experience in all areas of the industry. Going forward, we are confident this partnership will allow us to better serve all our customers.”
The partnership was effective as of 1st November, 2016.
Founded in 1929 when it predominantly supplied residential customers with propane, Maine Oxy has expanded to supply specialty gases and welding services from 19 locations across New England and Canada.
Effective 1st October (2013), the businesses of Arcet Equipment Co. and Machine & Welding Supply Co. have merged and will initially operate as wholly-owned subsidiaries of a new entity known as Arc3 Gases, Inc.
Following an unprecedented global recession in 2008/9, which shook all corners of the world, a slowdown in the M&A activity across all industry sectors occurred. How will our industry adapt to slower growth expectations and will the spotlight turn inwards, raising the prospect of more M&A activity? Stuart Radnedge investigates.
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