Radnor, PA - Airgas, Inc. announced that it has acquired Welding & Therapy Service, Inc., an industrial and medical gas and welding supply distributor with five locations in Indiana and Kentucky and annualized revenues of more than $10 million. Financial terms of the transaction were not disclosed.
Welding & Therapy Service's locations in Louisville, KY, and Bedford, Clarksville, Columbus, and Princeton, IN, and 51 associates joined Airgas' Mid America region effective March 3, 2014.
"Welding & Therapy Service has been serving industrial and medical customers, including major hospitals, in Indiana and the greater Louisville area for more than 40 years. We're very excited to welcome their outstanding associates and loyal customers to the Airgas family," said Les Graff, Airgas' Senior Vice President - Corporate Development. "Growth through acquisition remains an important complement to our organic growth story, and we look forward to continuing to enhance our integrated product and service offering to customers through the acquisition of both core and adjacent product and service businesses in the future."
"Airgas' customer-centric culture, commitment to the packaged gas business, and consistent investment in local strength and service are well-aligned with the core values that have driven our success over the past four decades and make for a great fit for our associates," said Paul Greiling, Jr., President of Welding & Therapy Service. "I believe the quality of service and breadth of product offering available to current and future customers of both companies will be stronger with this combination."
Since the beginning of its fiscal year, Airgas has acquired 11 businesses with aggregate annual revenues of nearly $82 million.