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.
The 50/50 merger brings together two long-standing, independent industrial gas and welding supply distributors in the southeast US.
Richmond-based Arcet Equipment Co. is the largest independently owned and operated distributor of Welding Products and Industrial Gases based in Virginia, while Machine & Welding Supply Co. of Dunn, North Carolina, is a fourth generation family-owned full service supplier of gases and welding supplies.
The balanced structure of the merger ensures that the family ownership and management heritage of each respective company is maintained, while positioning the combined businesses to further solidify and build upon their shared market position.
The merger of these the two multi-generation family businesses creates an operation with a total of 46 retail locations in North Carolina, South Carolina and Virginia, as well as a significant beverage CO2 business serving the eastern US from Delaware to Florida.
Parker Dillard and Emmett Aldredge, Jr. will serve as co-Chairmen of the board of directors of Arc3 Gases.
“We are very excited to announce this unique merger of equals to the employees of Arcet and Machine & Welding as well as to our peers in this great industry,” the co-Chairmen conveyed in a joint statement. “The remarkably similar company cultures, our contiguous geographies, our wonderful employees and our shared commitment to taking care of customers all made this a once-in-a-lifetime opportunity. We are thrilled about this partnership.”
Emmett Aldredge, III, who will serve as co-President of Arc3 Gases along with Dillard, added, “One of the great aspects of how we are coming together is that we can immediately begin the most important aspects of our integration process while at the same time having great people in place leading these two established companies to ensure we do not miss a beat in serving our valued customers.”
“We are excited to have made this formal commitment to each other and to a shared vision for Arc3 Gases.”
Joining the co-Presidents on the Arc3 Gases executive team are Andy Ellen as CFO and Christopher Aldredge as COO. Ray Dillard has been named General Manager of Arcet, and Jeff Johnson has been named General Manager of Machine & Welding Supply.