CLEVELAND, July 8 /PRNewswire/ -- Valley National Gases, LLC has acquired Beaver Valley Welding Supply, Inc. The acquired business sells industrial, medical, and specialty gases, and welding equipment and supplies from its Aliquippa, PA location. Jeff Lyden, former owner, will remain with the business and will be a welcome addition to the Valley family.
Michael Ziegler, Chief Executive Officer of Valley National, stated, "Valley National Gases is committed to continuing our strategy of growth through selective, high-quality acquisitions in regions that complement our operations. This acquisition blends very well with our business in Western Pennsylvania and will enhance our service capabilities throughout the region."
Joost Thesseling, Principal at CI Capital Partners LLC, said, "This is Valley National's sixth acquisition since CI Capital Partners' acquisition of the Company in its fiscal year ended June 30, 2008. These acquisitions have expanded the Company's territory to include Indiana, Maine and New Hampshire, and have strengthened existing operations in Pennsylvania and Ohio. Mike has built a terrific team which enables the company to efficiently execute and integrate acquisitions. We continue to see attractive acquisition opportunities in the large and fragmented U.S. industrial gas and propane markets which will allow Valley to continue its disciplined acquisition strategy."
Valley National Gases, with its new headquarters in Independence, OH, is a leading packager and distributor of industrial, medical and specialty gases, welding equipment and supplies, propane and fire protection equipment. Valley National Gases is based in Cleveland, Ohio and operates in 18 states, with 10 production and distribution centers in the eastern United States.
Valley National Gases, LLC was acquired in February 2007 by New York-based private equity firm CI Capital Partners LLC, formerly known as Caxton-Iseman Capital LLC. In addition to Valley, current CI Capital Partners portfolio companies include Ply Gem Industries, Inc., the largest North American manufacturer of residential siding, and fifth largest U.S. window manufacturer; KIK Custom Products, Inc., the largest North American contract manufacturer of branded and retailer-branded consumer products; Electrograph Systems, Inc., a leading national distributor of display technology solutions; American Residential Services, LLC, a leading provider of HVAC and plumbing services; Prodigy Health Group, Inc., a rapidly expanding health care services company; Conney Safety Products, LLC a full-service distributor of safety products; and CoVant, a federal IT services company led by the former executives and board of directors of Anteon Corporation.
CONTACTS:
James P. Hart of Valley National Gases, 216-573-9956 / or jhart@vngas.com
David Lilly, Kekst and Company, 212-521-4800
Source: Valley National Gases, LLC
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