Connecticut-based industrial, medical and specialty gases distributor Tech Air has completed the acquisition of Liquid Technology Corporation (Liquid Tech) and signed a definitive agreement to acquire the local distribution assets of JW Goodliffe & Son, Inc. (Goodliffe).
The new acquisitions become the 18th and 19th purchases for Tech Air, respectively, under CI Capital’s ownership.
New Jersey-based Goodliffe will continue to own and operate its Internet welding supply distribution site, Cyberweld.com. Closing of the transaction is expected to take place in the fourth quarter of 2016.
As a result, the company will have significantly increased its presence in the Northeastern US while establishing hubs in the Southeast, Southwest and Western US. Tech Air now services its customers through 36 branch and fill locations.
With the acquisition of Liquid Tech, Tech Air now has the ability to supply specialty gas customers throughout the US.
Myles Dempsey, Jr., CEO of Tech Air, said, “The acquisition of Liquid Technology will greatly enhance Tech Air’s specialty gases production capabilities and it’s locations in Orlando and Houston perfectly complement our existing specialty gas production in California.”
“Liquid Technology Corporation has been a trusted supplier to its customers since its founding over 20 years ago. The acquisition of JW Goodliffe will expand Tech Air’s leadership position in the New York Metro Region into the attractive Northern New Jersey market. JWG’s location in Linden, New Jersey is a great addition to our existing locations in White Plains, New York and on Long Island.”
“Both companies will benefit from Tech Air’s growth capital, access to a broad base of suppliers and administrative and operational support,” he added.