NEW YORK — Meritus Gas Partners announced that it entered into a partnership with OXARC Inc., headquartered in Spokane, Washington.
Financial terms of the transaction were not disclosed.
Founded in 1968, OXARC is one of the largest independent distributors of industrial and specialty gases, welding and safety supplies in the United States, operating 20 locations across Washington (10), Oregon (5) and Idaho (5). The Walmsley family has owned and operated OXARC since its inception. Co-Executive Vice Presidents Jenna Fitzgerald, granddaughter of founder Jerry Walmsley, and Jason Kirby will continue to lead the business while holding significant equity ownership in Meritus.
"We are thrilled to welcome OXARC into the Meritus family of operating companies," said Meritus Chairman Scott Kaltrider. "The Walmsleys have built one of the leading distributorships in the country for over 55 years."
"OXARC has earned the reputation as the premier independent distributor in the Pacific Northwest, fulfilling my grandfather's vision," said Fitzgerald. "When we contemplated OXARC's future, it was important to us to honor our grandfather and continue our family's legacy. Partnering with Meritus affords two generations of Walmsley owners to retire and monetize their investments, while allowing the company to remain under the direction of the family's third generation. We will maintain OXARC's independence and brand and remain committed to our dedicated employees and loyal customers."
OXARC serves customers in various industries, including agriculture, construction and manufacturing, and has built a reputation for its exceptional customer service and commitment to quality. The partnership furthers Meritus' strategy to expand its presence in the western U.S. and is expected to generate significant growth opportunities for Meritus in the Pacific Northwest.
"OXARC represents a platform opportunity for Meritus to serve the Pacific Northwest, one of the most diverse and growing economies in the country," said Kaltrider. "OXARC's footprint is vast and its expansive bulk and packaged gas capabilities are unique for a distributor. OXARC is poised for extraordinary growth, and we are looking forward to supporting Jenna, Jason and their employees on this path."
"We are excited about partnering with Meritus and the future of OXARC," said Kirby. "While our business is thriving, Meritus' support can turbocharge our growth through further capital investment, follow-on acquisitions and expansion into new geographies and markets. We also look forward to networking among the other Meritus operating companies to share best practices, take advantage of buying relationships and exchange customer leads."
