CI Capital Partners, a New York-based private investment firm, has acquired a controlling interest in Tech Air, Danbury, CT, a distributor of industrial, specialty and medical gases.

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Myles Dempsey Jr., Tech Air’s president and CEO, said: “We are pleased to have reached agreement on a transaction that provides terrific value for our ESOP employee shareholders while preserving both our independence and our relentless focus on our customers.”

Joost Thesseling, managing director at CI Capital Partners, said: “The industrial gas distribution sector continues to be very fragmented, and we believe Tech Air is well positioned to participate in the consolidation of the industry. We look forward to providing the company with a significant amount of additional equity capital to support its expansion through add-on acquisitions.”