Tech Air acquires McGinnis Welding Supply
Tech Air, a Connecticut-based distributor of industrial, medical, and specialty gases and related welding supplies, has acquired McGinnis Welding Supply of Wichita Falls, Texas.
Tech Air is owned by CI Capital Partners and Tech Air management.
McGinnis is a distributor of industrial, specialty and medical gases with locations in Wichita Falls and Vernon, Texas. The company, which was founded in 1963, serves a wide range of customers and industries. McGinnis will become a new division of Tech Air of Texas Inc. and the former owner, Joey Davis, will serve as the general manager of the division. McGinnis is Tech Air’s ninth add-on acquisition since CI Capital acquired the company in partnership with Tech Air’s management in 2010. Tech Air now operates through 27 branch and fill plant locations and serves customers in the Northeast, Southeast, Southwest and West.
“We are pleased with the acquisition of McGinnis Welding Supply, which adds to Tech Air’s growing presence in North Texas. We remain committed to our strategy of acquiring high-quality regional distributors throughout the continental United States and are actively seeking additional acquisitions,” said Myles Dempsey Jr., chief executive officer of Tech Air.
“We are thrilled to welcome Joey Davis and the entire McGinnis team to the Tech Air family of companies,” said Jeff Palmer, president of Tech Air of Texas. "We believe that McGinnis Welding Supply’s customers and employees will benefit from Tech Air’s resources and are looking forward to continuing our growth in North Texas.”
Joost Thesseling, managing director at CI Capital Partners, said, “Myles Dempsey and his team have done a great job to position Tech Air as a preferred acquirer in the industrial gas distribution market. The acquisition of McGinnis is the latest example of Tech Air’s ability to provide owners with attractive opportunities to remain actively engaged in the management of the business after the acquisition.”
INDUSTRIAL SUPPLY MAGAZINE
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