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 February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USCG Free Boat from Ice Near Woods Hole

A Coast Guard crew responded to a fishing vessel trapped in ice in Woods Hole Passage, Woods Hole, Massachusetts, Saturday. At about 3 p.m., the crew of the fishing boat Capt.

Tug Boat Owner Jailed After Crew Man Dies

A tug boat owner was today was given an 8 month custodial sentence after his crew member died trying to reattach a tow line in a violent storm. During today’s hearing at Southampton Crown Court,

COMPIT to Showcase Smarter Ships, Systems & Solutions

The 14th International Conference on Computer and IT Applications in the Maritime Industries (COMPIT) will take place from 11th to 13th May 2015 in Ulrichshusen, Germany.

Technology

COMPIT to Showcase Smarter Ships, Systems & Solutions

The 14th International Conference on Computer and IT Applications in the Maritime Industries (COMPIT) will take place from 11th to 13th May 2015 in Ulrichshusen, Germany.

China's Maritime Advances Worry US

The Director of U.S. National Intelligence, James Clapper, has expressed his concern at the progress of China in maritime zones it shares with its neighbors, accused

Davie Building LNG-powered Ferries

Canadian shipbuilder Davie held a keel laying ceremony for MV Armand-Imbeau II, marking the beginning of the hull assembly for this first of two sisterships under

News

USCG Free Boat from Ice Near Woods Hole

A Coast Guard crew responded to a fishing vessel trapped in ice in Woods Hole Passage, Woods Hole, Massachusetts, Saturday. At about 3 p.m., the crew of the fishing boat Capt.

Tug Boat Owner Jailed After Crew Man Dies

A tug boat owner was today was given an 8 month custodial sentence after his crew member died trying to reattach a tow line in a violent storm. During today’s hearing at Southampton Crown Court,

COMPIT to Showcase Smarter Ships, Systems & Solutions

The 14th International Conference on Computer and IT Applications in the Maritime Industries (COMPIT) will take place from 11th to 13th May 2015 in Ulrichshusen, Germany.

Mergers & Acquisitions

VLCCF - 4Q & FY 2014 Results

Knightsbridge Shipping Limited ( VLCCF ) reports net income of $5.2 million and earnings per share of $0.06 for the fourth quarter compared with a net loss of $6.

NMM lines up Box Buy

Navios Maritime Partners L.P. (NMM) an international owner and operator of container and drybulk vessels, announced today that it has secured, for no consideration,

SpeedCast Acquires Geolink Satellite Services

SpeedCast International Limited announced the acquisition of Geolink Satellite Services, part of the CETel Group. The closing of the transaction is subject to regulatory approval.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction
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: 0.1332 sec (8 req/sec)