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National Welders Supply Company, Inc.
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2007 Update - Specialty Manufacturing and Distribution
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“McColl Partners’ expertise and thorough approach were critical components to the successful outcome of this transaction.”
Judy Carpenter
Member of the Turner family and the National Welders Board of Directors
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“The industrial, medical, and specialty gas manufacturing and distribution industry is extremely dynamic. Specifically, we believe that the right combinations of businesses, such as the one between National Welders and Airgas, will continue to drive value in the sector. We were extremely pleased to have had the opportunity in this unique situation to unlock value for our client.”
Eric Andreozzi
Managing Director
McColl Partners, LLC
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Deal Summary
McColl Partners, LLC served as financial advisor to the James A. Turner, Jr. Revocable Trust and other preferred shareholders of National Welders Supply Company, Inc. in the exchange of their shares for common stock of Airgas, Inc. (NYSE:ARG).
In 1996, Airgas acquired 100% of the common stock of National Welders and 50% of the voting power of National Welders in a transaction pursuant to which National Welders became a joint venture of Airgas and the Turner family that founded National Welders. As the holders of the voting preferred stock in the joint venture, the Turner family retained the remaining 50% voting power. As part of its engagement, McColl Partners negotiated valuation terms for the preferred shares in the exchange for Airgas common stock. The McColl Partners team was comprised of Eric Andreozzi, Phil Colaco, Matt Preece, and Aarti Maheshwari.
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About Airgas, Inc.
Airgas, through its subsidiaries, such as National Welders, is the largest U.S. distributor of industrial, medical, and specialty gases, and hardgoods, including welding equipment and supplies. Airgas is also one of the largest U.S. distributors of safety products; the largest U.S. producer of nitrous oxide and dry ice; the largest liquid carbon dioxide producer in the Southeast; and a leading distributor of process chemicals, refrigerants, and ammonia products. More than 11,500 Airgas employees work in over 900 locations, including branches, retail stores, gas fill plants, specialty gas labs, production facilities, and distribution centers.
About McColl Partners, LLC
McColl Partners is an independent investment banking firm specializing in the needs of management and owners of middle-market companies. With significant experience working with private equity groups, entrepreneurs, family-owned businesses, public companies, and divisions of larger companies, the firm is dedicated to offering strategic advice and assistance to its clients regarding mergers and acquisitions and private capital raising assignments.
To learn more about our experience in the distribution and retail industries, please contact Eric Andreozzi or Brian Davis at (704) 333-0525. More information about McColl Partners can be found at www.mccollpartners.com.
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