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Tech Air acquires esquire gas products company

Thursday, Jan 03, 2013

Tech Air, a Danbury, CT-based distributor of industrial, medical, and specialty gases and related welding supplies, announced today that it has acquired Connecticut-based Esquire Gas Products Company (“Esquire”). Tech Air is owned by CI Capital Partners and the Company’s management.

“The acquisition of Esquire represents the next step in Tech Air’s buy-and-build strategy in the highly fragmented U.S. packaged gas sector. Consistent with previous acquisitions, Esquire is strategic and highly complementary to Tech Air’s existing operations. Tech Air continues to pursue attractive opportunities like Esquire to add to its platform.”

Myles Dempsey, Jr., Chief Executive Officer of Tech Air, said, “This transaction signifies our continued strategy of growth through selective acquisitions of key regional distributors. Esquire’s singular focus on liquid carbon dioxide and dry ice products is a perfect complement to Tech Air’s existing business model. With the addition of Esquire, Tech Air will be even better positioned to serve customers in growing markets such as food & beverage, bio-pharmaceuticals and healthcare.”

“The combination with Tech Air is an outstanding result for Esquire’s customers and employees as well as the Squires family,” said Bill Squires, President of Esquire. “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 Esquire represents the next step in Tech Air’s buy-and-build strategy in the highly fragmented U.S. packaged gas sector. Consistent with previous acquisitions, Esquire is strategic and highly complementary to Tech Air’s existing operations. Tech Air continues to pursue attractive opportunities like Esquire to add to its platform.”

Source: Business Wire

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