Victor Technologies Acquires Gas-Arc Group

MarineLink.com
Wednesday, November 06, 2013

Victor Technologies has announced it has acquired Gas-Arc Group Ltd, a privately held manufacturer of gas control equipment based in the United Kingdom, for approximately $40 million in cash, subject to post-closing adjustments. Gas-Arc's portfolio includes branded gas control products that meet specialty gas application requirements as well as cutting and welding equipment for the industrial, laboratory and medical gas control markets. Gas-Arc will continue to operate under its own name.

“Gas-Arc has shown an ability to anticipate changes in the market and innovate quickly, allowing customers to capitalize on the latest industrial, laboratory and medical opportunities,” said Martin Quinn, CEO of Victor Technologies. “In addition, Gas-Arc's manufacturing and testing facility in Diss, England, will increase our capability in delivering high quality products to the European market and strengthen our position as a leader in the high purity and medical gas control markets globally.”

John Gray, Managing Director of Gas-Arc, added, “Joining the Victor team enables us to realize our full growth potential, which in turn helps to secure the future for our valued and skilled employees while offering opportunities for our customers and suppliers. Both companies share a common vision: to provide innovative gas control solutions by collaborating with our end users.”

Douglas Korn, a Senior Managing Director of Irving Place Capital, said, “The Gas-Arc acquisition advances Victor’s technological and market leadership in cutting, gas control and specialty welding and is another example of the Victor management team’s impressive ability to drive long-term growth and profitability.” Irving Place Capital acquired Victor Technologies in 2010.

 

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Technology

Liquefaction Terminals to Dominate LNG Capital Expenditure

Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger

Ennsub Delivers ROV Deployment Systems

Ennsub has completed the design and manufacture of two workclass remotely operated vehicle (WROV) deployment systems for ROVOP, due to be installed into a newbuild

Wärtsilä to Proceed with first LNG Terminal

Wärtsilä has been given full notice to proceed (NTP) from Manga LNG Oy for the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland.

News

Port Workers in Argentine Grain Hub End Strike

Port workers in part of the Argentine grains hub of Rosario lifted a work stoppage on Friday, only a day after they went on strike over demands for higher year-end bonuses, a union official said.

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

Mergers & Acquisitions

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Teekay Tankers to Acquire 5 Tankers

Teekay Tankers Ltd. announced that it will acquire four coated Aframax tankers and one uncoated Aframax tanker for an aggregate purchase price of approximately $230 million.

DP World: Shareholders Back EZW buy, London Delisting

Shareholders of DP World have approved buying Economic Zones World from its majority shareholder and also backed the port operator's delisting from the London Stock Exchange,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1754 sec (6 req/sec)