Tech Air has acquired Geneva Gas & Supply Inc. – which is an industrial gas and welding supply company based in Los Angeles.
Geneva Gas & Supply is a leading distributor in the industrial gas and welding supply industry providing the highest quality pure and mixed gases, along with a broad line of welding, cutting, and safety equipment.
The company, which was founded in 2010, serves a wide range of customers and industries. Geneva will become part of Tech Air of California and the former owners, Glen Irving and Jack Storm, will continue to be employed by the company.
Irving will serve as President of Tech Air of California. Geneva is Tech Air’s seventh add-on acquisition in the last twelve months, and the thirteenth add-on acquisition since CI Capital acquired the company in partnership with Tech Air’s management in 2010.
Tech Air now operates through 29 branch and fill plant locations and serves customers in the Northeast, Southeast, Southwest and West.
Myles Dempsey, Jr., CEO of Tech Air, said, “We are excited to announce the addition of Geneva Gas & Supply to the Tech Air family of companies. Glen Irving has built a tremendous team that will help us take advantage of market opportunities in the Los Angeles area.”
“In a relatively short time, Geneva has established a track record of growth and will benefit from Tech Air’s commitment of growth capital, access to a broad base of suppliers and administrative and operational support.”
“We remain committed to our strategy of acquiring high quality regional distributors throughout the continental United States and are actively seeking additional acquisitions.”
“The acquisition by Tech Air presents a great opportunity for both employees and customers of Geneva Gas & Supply,” said Irving, President of Geneva Gas & Supply. “The access to additional resources provided by Tech Air will help our company to continue its growth in the Los Angeles area, while maintaining the same service excellence our customers expect.”
Joost Thesseling, Managing Director at CI Capital Partners, said, “Tech Air continues to successfully execute its acquisition strategy due to its willingness to work closely with owners to meet their objectives and provide opportunities to retain a critical role in the company post-closing. We are pleased with the progress the company has made, and we look forward to supporting Myles and the rest of the Tech Air team in continuing their growth strategy.”
Additionally, in May 2015, Tech Air completed the acquisitions of New York-based distributors of industrial gases Prest-O-Sales & Service, Inc. and Prest-O-Peconic, Inc. (POP). These acquisitions were previously announced in February 2015.
Tech Air, a Connecticut-based distributor of industrial, medical, and specialty gases and related welding supplies, is owned by CI Capital Partners and Tech Air management.