Matheson Tri-Gas, Inc. has successfully acquired the assets and business of ETOX, Inc and Gastech, LLC.
Based in Tyler, TX, and Texarkana, TX respectively, the businesses have operations throughout Eastern and Central Texas, Southeastern Arkansas, and Northwestern Louisiana.
The purchase will add 14 new branches to the Matheson Tri-Gas network, and the acquired business will become a new region within the Matheson Tri-Gas South Central Zone.
The transaction involves all of the assets and employees of ETOX and Gastech. Frank Barker will retain his general management responsibilities for the acquired business.
William J. Kroll, Chairman & CEO of Matheson Tri-Gas, Inc. and Executive Director of Taiyo Nippon Sanso Corporation, parent Company of Matheson Tri-Gas, Inc., said, “This acquisition is consistent with our strategy and highlights Taiyo Nippon Sanso’s commitment to expansion through acquisition in the US Market.”
“We have always admired ETOX as a well run company and we welcome this addition to our network. ETOX strengthens our presence throughout Eastern Texas and offers increased value to the customers of ETOX as a result of Matheson’s additional capabilities.”
Frank Barker, President of ETOX, Inc., added, “The owners are pleased by the completion of the sale to Matheson Tri-Gas. We felt that Matheson’s way of doing business would provide the best future for our employees and would allow the business to continue to grow through continued investment while maintaining the high service levels that ETOX customers have always been provided.”
Leaders LLC served as merger and acquisition advisor to ETOX in connection with this transaction.