Connecticut-based industrial, medical and specialty gases distributor Tech Air has completed another acquisition in the field, this time with Dallas, Texas-based Gas & Alloy Supply Co. (GASCO).
GASCO is a leading distributor of gases and welding supplies in the Dallas-Fort Worth area.
Founded in 2001 by industry veterans Kirk Foote and Bill Carpenter, the two will remain actively employed with the company – which now becomes part of Tech Air of Texas, Inc.
GASCO becomes Tech Air’s fifteenth add-on acquisition since CI Capital acquired the company in partnership with Tech Air’s management in 2010. The last year has proved to be particularly prolific for the company in terms of mergers and acquisitions (M&A) activity, with GASCO now the ninth add-on acquisition in just over 12 months.
Until the GASCO addition, Alabama-based L&M Welding Supply had been the most recent acquisition, completed in July (2015).
As a result of its M&A investments, Tech Air now operates through 31 branch and fill plant locations and serves customers in the Northeast, South, Southwest and West.
Myles Dempsey, Jr., CEO of Tech Air, commented, “We are thrilled to announce the addition of GASCO to our rapidly growing Southwest region, led by Jeff Palmer, the President of Tech Air of Texas. GASCO is known for outstanding customer service and technical capabilities and will benefit from Tech Air’s growth capital, access to a broad base of suppliers and administrative and operational support.”
“Once again, this acquisition demonstrates the attractiveness of our partnership model for prospective sellers who want to remain involved in their business and care deeply about their customers and employees.”
Jeff Palmer, President of Tech Air of Texas, added, “The combination of GASCO and our existing business, US Oxygen, in nearby Arlington, Texas is a great result for both the employees and customers of both companies.”