Praxair Distribution, Inc., a subsidiary of Praxair, Inc. recently publicised the acquisition of Weldco Inc., a market leader in Cincinnati, Ohio. The firm’s latest acquisition is one of the top 20 welding markets in the U.S., boasting 23 employees and sales of $8m.
John Panikar, President of Praxair Distribution, Inc., lauded the addition, he said, “The addition of Weldco to our existing presence in the Greater Cincinnati area further strengthens our ability to serve customers and build an even stronger business in southwestern Ohio and northeastern Kentucky.”
Weldco is an independent distributor of industrial and speciality gases and ancillary welding equipment, supplies and services. Financial terms of the transaction were not disclosed.
Tim Trame, President of Weldco offered his perspective: “Our dedicated employees have delivered quality products and services with complete confidence and customer satisfaction. Combining our business with Praxair will continue to benefit our customers and employees.”
Panikar said the acquisition of Weldco complements several other recent acquisitions made in the first half of 2011 and those expected to be completed by year-end. “Praxair will continue to take a proactive, targeted approach to acquire high quality independent distributors aligned with Praxair’s business strategy,” Panikar said.