Praxair Acquires Company - 7/2/2009
Indianapolis, IN – Praxair Surface Technologies, Inc., a subsidiary of Praxair, Inc., has acquired Sermatech International Holdings Corp. from Arsenal Capital Partners, a New-York-based private equity firm. Sermatech is a global supplier of protective coatings and advanced processes used on industrial and aviation gas turbines. Sermatech serves the aerospace, defense, power generation and oil and gas markets. Financial terms of the transaction were not disclosed.
Sermatech has operations in the U.S., Canada, United Kingdom, Germany and South Korea. The business generated sales of $116 million in 2008. Sermatech’s 625 employees will be integrated into Praxair Surface Technologies’ global operations.
Read the full story at praxair.com.
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