Portland Welding Supply acquired by Valley National Gases

Valley National Gases, LLC has announced that it has signed a definitive agreement to acquire Portland Welding Supply.

Portland Welding supply is an industrial gas and welding supply and tool distributor with annual sales in excess of $30m, 11 operating locations, and approximately 130 employees throughout Maine and New Hampshire.

Michael Ziegler, Chief Executive Officer of Valley National, stated, $quot;Portland Welding is one of the premier distributors in the Northeast and this transaction — our largest acquisition to date — will significantly expand our presence into New England through access to new markets.$quot;

Joost Thesseling, Principal at CI Capital Partners LLC, said, $quot;The acquisition of Portland Welding Supply is the third add-on acquisition since CI Capital Partners’ acquisition of Valley National Gases earlier in 2007.$quot;