Tech Air Acquired By Investment Firm - 1/4/2011
GAWDA distributor member Tech Air, headquartered in Danbury, CT, was acquired by CI Capital Partners, a New York-based private investment firm.
“We are pleased to have reached agreement on a transaction that provides terrific value for our ESOP employee shareholders while preserving both our independence and our relentless focus on our customers,” says Myles Dempsey Jr., Tech Air president and CEO.
“The industrial gas distribution sector continues to be very fragmented, and we believe Tech Air is well positioned to participate in the consolidation of the industry,” says Joost Thesseling, managing director at CI Capital Partners. “We look forward to providing the company with a significant amount of additional equity capital to support its expansion through add-on acquisitions.”
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