Connecticut-based industrial, medical and specialty gases distributor Tech Air has reached a definitive agreement to acquire Alliance Welding Supplies, Inc.
Alliance will be operated as a new subsidiary of Tech Air of California. The transaction is expected to close at the end of 2017, terms of the transaction were not disclosed.
Speaking about the acquisition, Myles Dempsey, Jr., Chief Executive Officer of Tech Air, said the partnership will establish a significant presence for Tech Air in the Bay Area, a region in which “we have long sought entry”.
Alliance was founded in 2002 by Marvin Rodgers III in San Jose, California, a short distance from his father’s business, Alliance Gas Products, and his mother’s business, Mavry Welding Supply, in Oakland, California.
In 2011, the Rodgers family merged their independent, Bay Area businesses to create the largest independent distributor of industrial, specialty, bulk and cryogenic gases, welding supplies and safety equipment in the San Francisco Bay Area and the largest independent gas distributor in Northern California. Marvin Rodgers III is the President of Alliance and will continue to serve in that capacity after the completion of the transaction. Rodgers will retain a significant investment.
“Alliance has always been focused on growth. We welcome the resources and support that a partnership with Tech Air can provide to continue our aggressive expansion strategy in Northern California,” added Rodgers.
Tech Air is owned by CI Capital Partners and Tech Air management. The acquisition of Alliance will be Tech Air’s 23rd add-on acquisition under CI Capital’s ownership.