Tech Air has announced that it has completed the acquisition of Gases & Arc Supply, Inc., a distributor of welding and industrial supplies and industrial gases located in Denver, Colorado. Tech Air is owned by CI Capital Partners and Tech Air management.
Gases & Arc was founded in 1995 by Jim O’Connor and Bob Backowies, who have more than 50 years of combined experience in the industrial gas distribution industry. Gases & Arc primarily serves industrial companies in the construction, pipe and metal fabrication industries. Both O’Connor and Backowies will remain actively involved with the company moving forward.
Myles Dempsey, Jr., CEO of Tech Air, said, “The acquisition of Gases & Arc creates a new region for Tech Air in Colorado, complementing Tech Air’s existing regions in the Northeastern, Southeastern, Southwestern and Western United States. We welcome Jim, Bob and the rest of the Gases & Arc team to Tech Air and look forward to supporting their continued growth and success.”
Jim O’Connor, President of Gases & Arc, commented, “Gases & Arc has built a reputation for outstanding customer service and technical expertise in the industries we serve. Putting customers and employees first are core values that we share with Tech Air. We are excited to embark on the next stage of our company’s evolution, in partnership with Tech Air.”
O’Connor continued, “Tech Air has established itself as a leader in our industry and we look forward to contributing to the organisation’s success moving forward.”
Joost Thesseling, Managing Director at CI Capital, said, “Tech Air’s significant investments in people and infrastructure have allowed the Company to consummate 21 add-on acquisitions to date. We are thrilled for Tech Air to establish a presence in Colorado and look forward to Tech Air expanding in that region with other add-on acquisitions. We remain committed to supporting the company and its acquisition strategy.”
Business Analyst, Toby Pimlott, commented, ”The Rockies, where Colorado is located, is the smallest industrial gas market of the eight US regions. In 2015, 25% of the market was made up of small producers and distributors.”