- $40-million purchase
- Gas-Arc brand remains
- Manufacturing/testing center
Victor Technologies, the St. Louis-based holding company for a family of welding and cutting equipment, is buying a British manufacturer of gas-control equipment for approximately $40 million. Gas-Arc Group Ltd. is a privately held company with a portfolio that includes branded gas-control products and cutting and welding equipment for industrial, laboratory, and medical markets.
"Gas-Arc has shown an ability to anticipate changes in the market and innovate quickly, allowing customers to capitalize on the latest industrial, laboratory and medical opportunities," stated Victor Technologies CEO Martin Quinn.
Gas-Arc will continue to operate under its own name.
Victor Technologies already includes multiple brands for products in different applications of the welding, cutting, and gas-control industries. The former Thermadyne Holdings Corp. was purchased by private-equity investors in 2010, and rebranded as Victor Technologies International Inc. The portfolio includes Victor, Victor Thermal Dynamics, Victor Arcair, Victor TurboTorch, Tweco, Thermal Arc, Stoody, Firepower and Cigweld.
Quinn said Gas-Arc's manufacturing and testing facility in Diss, England, would increase Victor’s ability to deliver high-quality products to European customers, and strengthen the group’s position in the high-purity and medical gas control markets globally.
"Joining the Victor team enables us to realize our full growth potential, which in turn helps to secure the future for our valued and skilled employees while offering opportunities for our customers and suppliers,” according to Gas-Arc managing director John Gray.