WASHINGTON, Pa., Oct. 3 / -- Valley National Gases, LLC announced today the acquisition of Allegheny Welding and Industrial Supply Inc., an industrial gas and welding supply distributor with operating locations in Johnstown, Greensburg and McKeesport, Pennsylvania.
Michael Ziegler, Chief Executive Officer, stated, "This acquisition increases our service capability in central and southwestern Pennsylvania, two very important markets for us. In addition, it fits our strategy of growth through selective, quality acquisitions. Allegheny Welding and Industrial Supply has a reputation for outstanding customer service and we are pleased to have the opportunity to continue this tradition and welcome Allegheny employees to the Valley team."
Valley National Gases, with headquarters in Washington, PA, is a leading packager and distributor of industrial, medical and specialty gases, welding equipment and supplies, propane and fire protection equipment. Valley National Gases operates seventy-eight locations in sixteen states, with eight production and distribution centers in the eastern United States.
Valley National Gases, LLC was acquired in February 2007 by Caxton-Iseman Capital LLC, a New York-based private equity firm. In addition to Valley, Caxton-Iseman's portfolio companies include Ply Gem Industries, Inc., the largest North American manufacturer of residential siding and fifth largest U.S. window manufacturer; Buffets, Inc., the largest buffet restaurant chain in the U.S.; KIK Custom Products, Inc., the largest and most diverse North American contract manufacturer of branded and retailer-branded consumer products; Electrograph Systems, Inc., a leading national distributor of display technology solutions; American Residential Services, LLC, a leading provider of HVAC and plumbing services; Prodigy Health Group, Inc., a rapidly expanding health care services company; Conney Safety Products, LLC a full- service distributor of safety products; and CoVant, a federal IT services company led by the former executives and board of directors of Anteon Corporation. Caxton-Iseman's portfolio companies have combined revenues of approximately US$6 billion, EBITDA of approximately US$600 million and 75,000 employees. The firm's investment vehicles have available capital in excess of US$2 billion.
FCMN Contact: david-lilly@KEKST.COM
Source: Valley National Gases, LLC
CONTACT:James P. Hart of Valley National Gases, +1-724-228-3000, email@example.com; or David Lilly of Kekst and Company, +1-212-521-4800, for Valley National Gases