Praxair Surface Technologies, Inc., a subsidiary of Praxair, Inc., has acquired Sermatech International Holdings Corp. from Arsenal Capital Partners, a New-York-based private equity firm.
Sermatech is a global supplier of protective coatings and advanced processes used on industrial and aviation gas turbines. The company serves the aerospace, defence, power generation and oil and gas markets.
Sermatech’s high-performance slurries, along with its diffusion and thermal-spray coating processes, extend component life and reduce maintenance costs by limiting degradation of metal parts at high temperatures.
The company has operations in the U.S., Canada, United Kingdom, Germany and South Korea. The business generated sales of $116 million in 2008 and has 625 employees.
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