Danbury, CT-based Tech Air, a distributor of industrial, medical, and speciality gases and related welding supplies, announced Tuesday that has signed a definitive agreement to acquire New York-based Presto-Sales & Service, and Presto-O-Peconic.
The Presto-O properties are distributors of industrial, speciality and medical gases with New York locations in Long Island City (Queens), and Riverhead (Long Island). The companies will become part of Tech Air of New York and the former owners, Jim Madison and George Nunnaro, will continue to be engaged. The properties will be Tech Air's tenth and eleventh acquisitions since CI Capital acquired the company in partnership with Tech Air's management in 2010. Tech Air now operates through 27 branch and fill plant locations and serves customers in the Northeast, Southeast, Southwest and West.
"We are thrilled to announce the addition of Prest-O-Sales and Prest-O-Peconic to the Tech Air family of companies," said Myles Dempsey, Jr., CEO of Tech Air. "POS and POP will significantly bolster our already strong position in the New Yorkmetropolitan area, facilitating better coverage of Long Island and New York City. We remain committed to our strategy of acquiring high quality regional distributors throughout the continental United States and are actively seeking additional acquisitions."
