Airgas to Acquire Tech Air
February 6, 2019
Cleary Gottlieb is representing Airgas, an Air Liquide company, which announced the signing of a definitive agreement to acquire Tech Air, a large independent distributor of industrial gases and welding supplies serving various geographies in the United States.
This transaction, which is subject to approval by U.S. antitrust authorities, will enable Airgas to further strengthen its network in the United States with a complementary footprint to better serve customers while generating significant efficiencies. Founded in 1935, Tech Air is a major distributor of industrial, medical and specialty packaged gases, welding equipment, and supplies. Tech Air is owned by CI Capital Partners, a New York-based private equity firm, and Tech Air management. Serving more than 45,000 customers, Tech Air, comprises approximately 550 employees and has annual revenues of approximately $190 million. Tech Air operates 50 locations in California, Texas, the Northeast and Southeast.