Written on: December 10, 2018 by ICM
Tech Air, a Connecticut-based national distributor of industrial, medical and specialty gases and related equipment and supplies, announced Tuesday that it acquired Collingdale, PA-based Scully Welding Supply Corp. and Scully Propane Service Corp.
Scully distributes propane, industrial and welding supplies, and industrial gases and provides installation and repair services. The company, which was founded in 1947, services the greater-Philadelphia region from its four locations.
“We are excited to gain the assets, resources, and expertise of a group with such a strong and well-established reputation,” said Myles Dempsey, Jr., CEO of Tech Air. “Since its founding in 1947, Scully has built and expanded its services in a key commercial region of the country. We welcome the team to Tech Air and look forward to sharing success as we continue to build our business together.”
The add-on acquisition is the 27th for Tech Air under the ownership of CI Capital. Terms of the deal were not disclosed.
“We are pleased with the progress that Tech Air continues to make as it builds a truly national business with significant gas distribution and welding supply operations from its beginnings as a regional company,” said Joost Thesseling, managing director at CI Capital. “The acquisition of Scully represents another high-quality transaction for Tech Air as the company executes its growth strategy.”