CriticalPoint is pleased to announce that Tech Air, a leader in industrial, medical and specialty gas distribution, has acquired Gases & Arc Supply, Inc. (“Gases & Arc”), a distributor of welding & industrial supplies and industrial gases located in Denver, Colorado. CriticalPoint acted as the buy-side advisor to Tech Air and was responsible for sourcing the opportunity. Tech Air is owned by CI Capital Partners, a New York based private equity firm 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 Mr. O’Connor and Mr. Backowies will remain actively involved with the company moving forward.
This latest acquisition is part of 21 add-on acquisitions Tech Air has made since its partnership with CI Capital in 2010. The acquisition of Gases & Arc creates a new region for Tech Air in Colorado, complementing Tech Air’s existing regions in the Northeastern, Southeastern, and Western United States. Tech Air now services its customers through 37 branch and fill locations.
Harris Ackerman, VP of M&A of Tech Air, said, “We welcome Jim, Bob and the rest of the Gases & Arc team to Tech Air. Tech Air’s acquisition strategy has been built around acquiring high quality regional distributors who share our values and commitment to customer service. Gases & Arc will benefit from our resources and we are thrilled that their management team will join Tech Air and help us continue to build a bigger company. Our partnership with CriticalPoint throughout the entire deal process proved to be the right choice. Their ability to identify direct competitors and uncover areas for strategic expansion created value for our shareholders and helped position us for continued long-term growth.”
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 and operates through 37 branch, fill locations in the Northeast, Southeast and West. Tech Air serves more than 10,000 customers in a wide range of industries. To learn more about Tech Air, please visit www.techair.com.
About CriticalPoint
Headquartered in Los Angeles, CriticalPoint is a leading full-service financial M&A firm that uniquely combines the best of investment banking, private capital, and valuation service offerings. CriticalPoint executes, sources, and invests in deals across a wide variety of industries for the traditionally underserved middle market. Since our founding in 2012, our mission has been to serve the needs of owners, entrepreneurs, management teams, and stakeholders with our experience, knowledge, and expert judgment, to help them realize their companies’ greatest potential. From our deep-rooted foundation in private equity and investment banking, and our devotion to deal origination and business development, combined with being entrepreneurs at heart, we believe we are differentiated and well positioned to help companies wherever they are in their life cycle.
About CI Capital
CI Capital Partners LLC, a North American private equity firm with $1.9 billion in assets under management, 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 over 180 acquisitions representing approximately $7 billion in enterprise value. To learn more about CI Capital Partners, please visit www.cicapllc.com .
Securities Products and Investment Banking Services are offered through CriticalPoint Partners, LLC. Member FINRA SIPC. The above testimonial may not be representative of the experience of other clients and should not be construed as a guarantee of future performance or success.
