CriticalPoint Partners (“CPP”) is pleased to announce that Tech Air, a leader in industrial, medical and specialty gas distribution, has acquired New Jersey based JW Goodliffe & Son, Inc.’s local gas distribution assets (“Goodliffe”). Goodliffe will continue to own and operate its internet welding supply distribution site, Cyberweld.com. CPP 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.
JW Goodliffe & Son, Inc. was founded in 1938 and is a leading distributor of welding gases and supplies in New Jersey. This latest acquisition is part of 19 add-on acquisitions Tech Air has made since its partnership with CI Capital in 2010. As a result, the company has significantly increased its presence in the Northeastern United States which complements established hubs in the Southeast, Southwest and the 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 are excited to announce the acquisition of the local distribution assets of JW Goodliffe. JWG’s location in Linden, NJ perfectly complements our existing locations in White Plains, NY and Long Island City, NY. JWG will benefit from Tech Air’s growth capital, access to a broad base of suppliers and administrative and operational support. The CriticalPoint team has been a great partner in executing our acquisition strategy. Their ability to identify suitable acquisition targets and uncover areas for strategic expansion help position us for continued long-term growth.”
About Tech Air
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 Partners
About CriticalPoint Partners: Headquartered in Los Angeles, CriticalPoint Partners is a leading M&A advisory and investment banking firm focused on sourcing, negotiating and executing a range of transactions for our clients. We strive to enhance shareholder value through acquisitions, or to maximize proceeds in a business sale. CriticalPoint Partners builds customer-centric, long-term partnerships with our representative clients to create strong relationships that span the course of multiple transactions. To learn more about CriticalPoint Partners, please visit www.criticalpointpartners.com.
About CI Capital
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.
Transaction completed in conjunction with BA Securities.