Tech Air acquires three distributors
Tech Air announced its acquisition of Speed Industrial Supply of Kemah, Texas, a distributor of industrial and welding supplies.
Earlier this year, the Connecticut-based distributor of industrial, medical and specialty gases and related equipment and supplies completed the acquisition of Leeper Brothers in California and Colorado Distributing in Colorado.
Speed Industrial serves the Galveston Bay area near Houston. Terms of the transaction were not disclosed. Tech Air is owned by CI Capital Partners and Tech Air management. The add-on acquisition of Speed is Tech Air’s 26th add-on acquisition under CI Capital’s ownership.
The acquisition of Speed provides Tech Air a base from which to launch a new regional operation in the Houston area, and continues Tech Air’s geographic expansion throughout the United States.
“We are very pleased with Tech Air’s expansion through the acquisition of such high quality business. Speed has a well-established reputation and strategic value in the attractive Galveston-Houston area and we look forward to building on this acquisition in the region, said Myles Dempsey Jr., chief executive officer of Tech Air.
Joost Thesseling, managing director at CI Capital, said, “Through 26 add-on acquisitions, Tech Air has transformed a regional company to one with significant operations coast-to-coast. We remain committed to supporting the company and its acquisition strategy.”
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
