Private Equity Firm to Buy Valley National Gases for $312M
Caxton-Iseman Capital, a New York-based private investment firm, has agreed to acquire Valley National Gases Incorporated for about $312 million.
Founded in 1958, Valley National is an independent U.S. distributor of industrial, medical and specialty gases delivered in packaged or cylinder form, related welding equipment and supplies, and non-pipeline propane. The company serves more than 225,000 industrial, commercial and residential customers through 75 branches in 14 Eastern and Midwestern states. Valley National had revenue of $220 million in the 12 months ended Sept. 30, 2006, and employs about 750 people.