Benchmark International has successfully negotiated the sale of Gasco Affiliates, LLC to Tech Air, a Connecticut-based distributor of industrial, medical, and specialty gases and related equipment and supplies. Tech Air 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.
Myles Dempsey, Jr., Chief Executive Officer of Tech Air, said, "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."
"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.“ Tyrus O’Neill, Director at Benchmark International, stated, “It was a pleasure to represent Gasco Affiliates in this transaction, and on behalf of Benchmark International, we are extremely pleased with the outcome. Allowing both the seller and acquirer to prosper and benefit is always an ideal end result. Overall, this has been a thoroughly satisfying experience and we wish both parties the best of luck moving forward”
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 and operates through 36 branch and fill locations in the Northeast, Southeast, Southwest and West. Tech Air serves more than 10,000 customers in a wide range of industries. To learn more about Tech Air, please visit www.techair.com.
Founded in 1999, Gasco is a leading producer of precision calibration gas. Gasco's products are exclusively sold through safety and equipment distributors worldwide. Gasco's superior industry knowledge has resulted in innovative technologies and the ability to create custom gas mixtures. To learn more about Gasco, please visit www.gascogas.com.
ABOUT BENCHMARK INTERNATIONAL
Benchmark International’s global offices provide business owners in the middle market and lower middle market with creative, value-maximizing solutions for growing and exiting their businesses. To date, Benchmark International has handled engagements in excess of $5 billion across 30 industries worldwide. With decades of global M&A experience, Benchmark International’s deal teams, working from 13 offices across the world, have assisted hundreds of owners with achieving their personal objectives and ensuring the continued growth of their businesses.