Tech Air acquires Esquire Gas Products
Tech Air, a Danbury, Conn.-based distributor of industrial, medical, and specialty gases and related welding supplies, has acquired Connecticut-based Esquire Gas Products Company.
“This transaction signifies our continued strategy of growth through selective acquisitions of key regional distributors. Esquire’s singular focus on liquid carbon dioxide and dry ice products is a perfect complement to Tech Air’s existing business model," said Myles Dempsey Jr., chief executive officer of Tech Air.
He added that the acquisition will better position Tech Air to serve customers in growing markets such as food and beverage, bio-pharmaceuticals and healthcare.
“The combination with Tech Air is an outstanding result for Esquire’s customers and employees as well as the Squires family," said Bill Squires, president of Esquire. "Our focus on delivering a high level of customer service and our strong culture are important values shared with Tech Air.”
Tech Air is owned by CI Capital Partners and the company’s management.
Joost Thesseling, managing director at CI Capital Partners, said the acquisition represents the next step in Tech Air’s buy-and-build strategy in the highly fragmented U.S. packaged gas sector. "Consistent with previous acquisitions, Esquire is strategic and highly complementary to Tech Air’s existing operations. Tech Air continues to pursue attractive opportunities like Esquire to add to its platform,” he said.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
