Tech Air, a Danbury, Connecticut-based distributor of industrial, medical, and specialty gases and related welding supplies, said Tuesday that it would acquire Pennsylvania-based Dressel Welding Supply.
Tech Air is owned by CI Capital Partners and the companys management.
This transaction signifies our continued strategy of growth through selective acquisitions of key regional distributors, said Myles Dempsey, Jr., CEO of Tech Air. Dressel will serve as a strategic entry point into the highly attractive Central Pennsylvania and Northern Maryland markets.
The combination with Tech Air is an outstanding result for Dressels customers and employees, as well as for the Skehan family," said Tom Skehan, CEO of Dressel. "Our focus on delivering a high level of customer service and our strong culture are important values shared with Tech Air. We are looking forward to this new partnership.
The acquisition of Dressel represents the next step in Tech Airs buy-and-build strategy in the highly fragmented US packaged gas sector, said Joost Thesseling, managing director at CI Capital Partners
Consistent with previous acquisitions, Dressel is strategic and highly complementary to Tech Airs existing operations. Tech Air continues to pursue attractive opportunities like Dressel to add to its platform.
Officials did not disclose the deal's value or its expected closing date.