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

People & Company News

TESSCO Installs Chesapeake Bay Police Boat Video System

Leading networking company, TESSCO Technologies Incorporated, informs it has worked closely with the Maryland Department of Natural Resources (DNR) to successfully implement,

Livingston Appoint Candace Sider V-P Regulatory, Canada

Customs brokerage and trade compliance advisors, Livingston, say that to better reflect the company’s integral role in regulatory affairs for its clients, Livingston

Ingram Barge Order 20 Tank Barges for 2015

Ingram Barge Company say they will be building 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank barges have come through acquisitions,

Technology

TESSCO Installs Chesapeake Bay Police Boat Video System

Leading networking company, TESSCO Technologies Incorporated, informs it has worked closely with the Maryland Department of Natural Resources (DNR) to successfully implement,

General Dynamics Wins US Navy Award for F/A-18 Mission Computers

General Dynamics Advanced Information Systems, a business unit of General Dynamics, was awarded a $16.2 million contract by the U.S. Navy to produce Type-3 Advanced

ST Engineering Injects Capital into Leeboy India

Singapore Technologies Engineering Ltd (ST Engineering) announced today that its land systems arm, Singapore Technologies Kinetics Ltd has injected S$4.2m (equivalent

News

Gazprom Supplying Gas to Europe as Contracted

Alexey Miller reported to Vladimir Putin that European consumers were receiving gas supplies entirely in line with contractual obligations. The total accumulated

South Carolina Ports Container Volume Up by 13%

SC Ports Authority reported container volumes up 13 percent fiscal year to date, a strong start to the first two months of the fiscal calendar. The SCPA handled 163,

General Dynamics Wins US Navy Award for F/A-18 Mission Computers

General Dynamics Advanced Information Systems, a business unit of General Dynamics, was awarded a $16.2 million contract by the U.S. Navy to produce Type-3 Advanced

Mergers & Acquisitions

Global Ship Lease to Acquire Containership

Global Ship Lease, Inc. has  announced  that it has agreed to acquire a 8,063 TEU containership from a leading container liner company for a purchase price of $55 million.

EMS Seven Seas Announces New CEO

EMS Seven Seas announces new CEO; enters into agreement to acquire Wave Shipping, a Singapore-based maritime and port agency services company. EMS Seven Seas,

Fugro Takes Delivery of 2nd Coastal Survey Vessel from Damen

Fugro yesterday took delivery of its second of the three Fugro Offshore Coastal Survey Vessels (FOCSV) being built by Damen. The Fugro Pioneer is a compact,

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction 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: 0.2216 sec (5 req/sec)