NEW YORK — Meritus Gas Partners announced Tuesday that three of its platform operating companies successfully closed add-on acquisitions during May 2024.
Financial terms of the acquisitions were not disclosed.
- High Precision Gas LLC, headquartered in Santa Fe Springs, California, acquired the assets of EcoGreen Industries LLC, effective May 1. Founded in 2013 and based in Anderson, California, EcoGreen is a supplier of pure and mixed hydrocarbon gases, ethanol and equipment to cannabis and hemp extractors.
- OzArc Gas Equipment & Supply Inc., based in Cape Girardeau, Missouri, acquired the retail propane assets of Island Energy Inc., a bulk and cylinder propane supplier located in Paragould, Arkansas. The transaction closed on May 13. Ozarc will operate from this location, expanding its retail propane presence into northeastern Arkansas.
- Effective June 1, OXARC LLC, based in Spokane, Washington, acquired the assets of Gem State Welders Supply Inc., based in Twin Falls, Idaho. Founded in 1966, Gem State is an independent distributor of industrial gases, welding and safety supplies serving the southern Idaho region. Gem State is led by William Watt, who will remain with the business for a transition period following the transaction.
"We are pleased to welcome each of these companies, their employees and customers into the Meritus family," said Meritus Chairman Scott Kaltrider. "Our platform operating companies have the infrastructure, scale and management breadth to execute add-on acquisitions in their respective markets, and we encourage and support them to do so.
"EcoGreen, Island Energy and Gem State have excellent reputations in the regions they serve and will expand our partner operating companies' capabilities and geographic reach. We are excited about our expansion and continuing to pursue these kinds of accretive growth opportunities."
