Return to search

PE-Backed Valley National Gases Completes Sixth Add-On Of Year

CLEVELAND, July 8 — Valley National Gases, LLC announced
today that it has acquired Beaver Valley Welding Supply, Inc. The acquired
business sells industrial, medical, and specialty gases, and welding equipment
and supplies from its Aliquippa, PA location.  Jeff Lyden, former owner, will
remain with the business and will be a welcome addition to the Valley family.
Michael Ziegler, Chief Executive Officer of Valley National, stated,
“Valley National Gases is committed to continuing our strategy of growth
through selective, high-quality acquisitions in regions that complement our
operations. This acquisition blends very well with our business in Western
Pennsylvania and will enhance our service capabilities throughout the region.”
    Joost Thesseling, Principal at CI Capital Partners LLC, said, “This is
Valley National's sixth acquisition since CI Capital Partners' acquisition of
the Company in its fiscal year ended June 30, 2008. These acquisitions have
expanded the Company's territory to include Indiana, Maine and New Hampshire,
and have strengthened existing operations in Pennsylvania and Ohio. Mike has
built a terrific team which enables the company to efficiently execute and
integrate acquisitions.  We continue to see attractive acquisition
opportunities in the large and fragmented U.S. industrial gas and propane
markets which will allow Valley to continue its disciplined acquisition
    Paul, Weiss provided legal counsel to Valley National in connection with
the transaction.
    Valley National Gases, with its new headquarters in Independence, OH, is a
leading packager and distributor of industrial, medical and specialty gases,
welding equipment and supplies, propane and fire protection equipment. Valley
National Gases is based in Cleveland, Ohio and operates in 18 states, with 10
production and distribution centers in the eastern United States.
    Valley National Gases, LLC was acquired in February 2007 by New York-based
private equity firm CI Capital Partners LLC, formerly known as Caxton-Iseman
Capital LLC. In addition to Valley, current CI Capital Partners portfolio
companies include Ply Gem Industries, Inc., the largest North American
manufacturer of residential siding, and fifth largest U.S. window
manufacturer; KIK Custom Products, Inc., the largest North American contract
manufacturer of branded and retailer-branded consumer products; Electrograph
Systems, Inc., a leading national distributor of display technology solutions;
American Residential Services, LLC, a leading provider of HVAC and plumbing
services; Prodigy Health Group, Inc., a rapidly expanding health care services
company; Conney Safety Products, LLC a full-service distributor of safety
products; and CoVant, a federal IT services company led by the former
executives and board of directors of Anteon Corporation.