Tech Air acquires Gasco Affiliates
Tech Air announced that it has completed the acquisition of Florida-based Gasco Affiliates, a producer of specialty gases.
Tech Air, a Connecticut-based distributor of industrial, medical, and specialty gases and related equipment and supplies, is owned by CI Capital Partners and Tech Air management.
Founded in 1999 by Tom Hanway, Gasco produces portable calibration gas mixtures, used to verify the accuracy and operability of gas detection and analytical instrumentation that detect specific harmful gases across an array of work place environments. From its locations in Florida and Texas, Gasco services industrial safety distributors across the United States and internationally. The acquisition of Gasco complements Tech Air’s acquisition of specialty gas producer Liquid Technology, completed in September 2016. Gasco will be operated as a separate division of Tech Air, while retaining its distinctive brand identity, high level of service and support, and deep relationships with leading safety distributors worldwide. Gasco will be led by president Brad Hanway who has served in various management roles with the company since 2002.
“Through this acquisition, we continue to build out Tech Air’s Specialty Gas production capabilities, an exciting area of growth for the company. We welcome Brad and the rest of the Gasco management team to Tech Air,” said Myles Dempsey Jr., chief executive officer of Tech Air.
“We look forward to bringing Gasco’s specialty gas expertise to Tech Air,” said Brad Hanway, president of Gasco. “Tech Air and Gasco share a commitment to quality, integrity and high level of customer service, which makes this transaction a great fit for our team and Gasco’s customers.”
Joost Thesseling, managing director at CI Capital, said, “Through 20 add-on acquisitions, Myles and the Tech Air management team have transformed the company into a multi-regional player. The acquisition of Gasco further diversifies Tech Air’s business beyond industrial gas distribution and into the production of specialty gases. We remain committed to supporting the company and its acquisition strategy.”