Tech Air distributor of industrial, medical, and specialty gases and related welding supplies, announced that it has acquired Georgia-based Compressed Gases of Augusta and A-L Welding Supply of Gainesville.
Tech Air is owned by CI Capital Partners and the company’s management.
Myles Dempsey, Jr., Chief Executive Officer of Tech Air, said, “These transactions signify our continued strategy of growth through selective acquisitions of high-quality regional distributors. CGA and ALWS serve as strategic entry points into the highly attractive Georgia and South Carolina markets. Adding CGA and ALWS positions Tech Air well to serve customers from a broadened geographic footprint.”
“The sale to Tech Air is an outstanding result for the customers and employees of our company,” said Charles Loveless, owner of CGA. “Our focus on delivering a high level of customer service and our strong culture are important values shared with Tech Air.”
Joost Thesseling, Managing Director at CI Capital Partners, said, “The acquisitions of ALWS and CGA represent the next step in Tech Air’s buy-and-build strategy in the highly fragmented US packaged gas sector. Tech Air is well capitalised and continues to look for attractive growth opportunities to add to its platform.”
The US is predicted to drive new-build, liquefied natural gas (LNG) liquefaction capacity additions globally from planned and announced projects between 2019 and 2023, contributing approximately 73% of global new-build LNG liquefaction capacity growth by 2023.
Houston, Texas, based Thigpen Energy has selected Chart for the provision of LNG fueling equipment and supplies – with construction already underway. Earlier this week it was announced that the company’s eastern European outfit, Chart Ferox, was chosen to construct LNG filling station in Poland.
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