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October 17, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Tech Air acquires Speed Industrial Supply

Tech Air, a Danbury-based distributor of industrial, medical, and specialty gases and related equipment and supplies, has acquired Speed Industrial Supply, a distributor of industrial and welding supplies serving the Galveston Bay area in Texas. Terms of the acquisition were not disclosed.

The transaction marks the third acquisition by Tech Air this year. In addition to Kemah, Texas-based Speed Industrial Supply, Tech Air also picked up Leeper Brothers, a distributor of medical gases located in North Hollywood, California, in February and Denver-headquartered Colorado Distributing, a hard goods business with primarily power and utilities customers, in April.

“We are very pleased with Tech Air’s expansion through the acquisition of such high-quality business,” said CEO Myles Dempsey Jr. “Speed has a well-established reputation and strategic value in the attractive Galveston-Houston area, and we look forward to building on this acquisition in the region. Colorado Distributing builds upon our growth strategy in that state and strengthens our service offerings. The acquisition of Leeper Brothers greatly enhances our position in Southern California, and we are excited to have added medical gas business to our business mix. We welcome these teams to Tech Air, and we look forward to supporting their continued success.”