Home » Valley National Gases acquires Gas Arc Supply
Valley National Gases acquires Gas Arc Supply
December 6, 2001
Valley National Gases Incorporated, Wheeling, WV, announced that it completed the acquisition of Gas Arc Supply, Inc., an industrial gases and welding supply distributor with five locations in Pennsylvania, Maryland and Virginia having $4.5 million in annual sales.
Valley National Gases' President and CEO Lawrence E. Bandi said, "Gas Arc enhances our capabilities in the Baltimore and Philadelphia markets and provides significant synergy to our existing presence in these important markets. Gas Arc's Baltimore location provides a direct overlay with a substantial amount of business that Valley currently enjoys in the same market segment. Gas Arc's filling and distribution capabilities along with Valley's growing needs in this market will enable us to better serve our customers using the Gas Arc facilities as a basis for an expanded distribution center. One of our most important business strategies has been, and continues to be, the acquisition of businesses that give us the opportunity for future growth and leverage. We continue to actively pursue acquisition candidates that fit our profiles. This acquisition fits well with our strategy of effectively distributing products and services across an expanding geographic marketplace. We are pleased to be able to add a business of this size and quality to our existing base and to have the associates join our team."
Bandi further commented on this acquisition stating, "Gas Arc has a high percentage of gas sales which are relatively stable during economic downturns. This will add approximately 16,000 cylinders to our population, enhancing our steady cash flow."
Valley National Gases, with headquarters in Wheeling, West Virginia, is a packager and distributor of industrial, medical and specialty gases, welding equipment and supplies, propane and fire protection equipment. Valley National Gases operates seventy locations in eleven states, with eight production and distribution centers in the eastern United States. Valley completed five acquisitions during the last twelve months, adding approximately $21 million in annual sales.