Tech Air Acquires Endweld Supply Corporation of New York

CI Capital-sponsored Tech Air, Distributor of Industrial, Medical and Specialty Gases, Continues Growth Strategy

DANBURY, Conn.--()--Tech Air, a Danbury, CT-based distributor of industrial, medical, and specialty gases and related welding supplies, announced today that it has acquired New York-based Endweld Supply Corporation (“Endweld”) of Johnson City. Tech Air is owned by CI Capital Partners and Tech Air management.

Myles Dempsey, Jr., Chief Executive Officer of Tech Air, said, “This transaction underscores our continued strategy of growth through selective acquisitions of high-quality regional distributors. Endweld is a first-rate welding and gas distributor that serves as a strategic entry point into the highly attractive NY southern tier market. Adding Endweld positions Tech Air well to serve customers from a broadened geographic footprint.”

“The sale to Tech Air is an outstanding result for the customers and employees of our company," said Tom Caminiti, owner of Endweld. "Our focus on delivering a high level of customer service and our strong culture are important values shared with Tech Air.”

Joost Thesseling, Managing Director at CI Capital Partners, said, “The acquisition of Endweld is Tech Air’s sixth add-on acquisition. We continue to see attractive acquisition opportunities as Tech Air is building a reputation as a well-capitalized, credible buyer. Our flexible approach allows us to structure partnerships with business owners which achieve their objectives, including opportunities to participate in Tech Air’s success.”

About Tech Air

Founded in 1935, Tech Air is a leading packager and distributor of industrial, medical and specialty gases, welding equipment and supplies. The company is headquartered in Danbury, CT. To learn more about Tech Air, please visit www.techair.com.

About Endweld

Endweld was founded in 1989 by Tom and Karen Caminiti and serves customers throughout the Southern Tier of New York and Northern Pennsylvania. Endweld operates from its location in Johnson City, NY. To learn more about Endweld, please visit www.endweld.com.

About CI Capital Partners

CI Capital Partners LLC, a North American private equity firm, has been investing in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth and operational improvements. Since the firm’s inception, CI Capital and its portfolio companies have made more than 100 acquisitions representing approximately $7 billion in enterprise value. CI Capital's existing portfolio consists of companies which collectively generate annual revenue of over $4 billion, EBITDA of over $400 million and employ approximately 15,000 people. To learn more about CI Capital Partners, please visit www.cicapllc.com.

Contacts

CI CAPITAL PARTNERS
Kekst and Company
Yemi Rose, 212-521-4842
or
TECH AIR
Myles P. Dempsey, Jr., 203-731-8981
President and CEO

Contacts

CI CAPITAL PARTNERS
Kekst and Company
Yemi Rose, 212-521-4842
or
TECH AIR
Myles P. Dempsey, Jr., 203-731-8981
President and CEO