Tech Air, which is owned by CI Capital Partners, said Monday that it has acquired Georgia-based Compressed Gases of Augusta and A-L Welding Supply. No financial terms were disclosed. CGA serves customers throughout Northeast Georgia and South Carolina while ALWS is a provider of services and solutions for the welding industry.
DANBURY, Conn.–(BUSINESS WIRE)–Tech Air, a Danbury, CT-based distributor of industrial, medical, and specialty gases and related welding supplies, announced today that it has acquired Georgia-based Compressed Gases of Augusta (“CGA”) and A-L Welding Supply, Inc (“ALWS”) of Gainesville. Tech Air is owned by CI Capital Partners and the Company’s management.
Myles Dempsey, Jr., Chief Executive Officer of Tech Air, said, “These transactions signify our continued strategy of growth through selective acquisitions of high-quality regional distributors. CGA and ALWS serve as strategic entry points into the highly attractive Georgia and South Carolina markets. Adding CGA and ALWS positions Tech Air well to serve customers from a broadened geographic footprint.”
“The sale to Tech Air is an outstanding result for the customers and employees of our company,” said Charles Loveless, owner of CGA. “Our focus on delivering a high level of customer service and our strong culture are important values shared with Tech Air.”
Joost Thesseling, Managing Director at CI Capital Partners, said, “The acquisitions of ALWS and CGA represent the next step in Tech Air’s buy-and-build strategy in the highly fragmented U.S. packaged gas sector. Tech Air is well capitalized and continues to look for attractive growth opportunities to add to its platform.”
About Tech Air
Founded in 1935, Tech Air is a leading packager and distributor of industrial, medical and specialty gases, welding equipment and supplies. The company is headquartered in Danbury, CT. To learn more about Tech Air, please visit www.techair.com.
CGA was founded in 1991 and serves customers throughout Northeast Georgia and South Carolina. CGA operates from its location in Augusta, GA.
For over 50 years, A-L Welding Supply, Inc has offered everything for the welding industry. A-L operates from its location in Gainesville, GA.
About CI Capital Partners
CI Capital Partners LLC, a North American private equity firm, has been investing in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth and operational improvements. Since the firm’s inception, CI Capital and its portfolio companies have made more than 100 acquisitions representing over $6 billion in enterprise value. CI Capital’s existing portfolio consists of companies which collectively generate annual revenue of close to $4 billion, EBITDA of over $350 million and employ approximately 15,000 people. To learn more about CI Capital Partners, please visit www.cicapllc.com.