La Porte, Texas, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Gas Innovations, La Porte, TX, continues growth with the addition of investment partner, AEA Investors (“AEA”). AEA’s Small Business Fund invested in Gas Innovations as part of the formation of Meritus Gas Partners (“Meritus”).
Co-Founders Jason Willingham and Ashley Madray will continue to manage the company as well as serve on the Meritus Board of Directors. Willingham says, “we will continue our growth plans in the domestic and international industrial gases, welding and fabrication, hydrocarbon markets, and the many other related markets for our products and services.”
Madray added, “Our key employees have helped get us to this level, and continued growth will require continued investment. We are excited about the future with AEA. Being a part of the Meritus platform creates a real incentive for our employees, and an assuredness of supply and continued innovation for our customers.”
Meritus will be led by industry executives Scott Kaltrider and Rob D’Alessandro, each having executive level careers at Praxair now Linde. As Chair and Vice Chair they will work to grow the overall platform as well as serve as partners to Willingham and Madray as they continue to grow the Gas Innovation business.
“AEA is a well-managed firm with great experience in these types of businesses and growth strategies. AEA’s financial expertise and investment resources will complement Gas Innovations to maintain its historic growth,” Kaltrider says.
Kirkland and Ellis LLP of Houston advised and counseled the company on the transaction.
About Gas Innovations
Gas Innovations was founded in 2002 with the goal of providing industrial gas producers and distributors a dependable, independent wholesale supply partner. Since its founding, the company has grown to become a world-wide supplier of high purity hydrocarbons, refrigerant gases and specialty gases. Gas Innovations is located on the Houston Ship Channel, La Porte, TX. Please visit www.gasinnovations.com.
About AEA Investors LP
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. The firm manages funds that have over $15 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across three sectors: value added industrials, consumer, and services. The AEA Small Business Funds is a strategy within AEA that currently manages $1.8 billion of invested and committed capital. The team seeks to help grow and transform companies at the lower end of the middle market by sponsoring growing companies with proven management teams and superior business models. For more information, please visit www.aeainvestors.com.