MagneGas Applied Technology Solutions, Inc. has announced the acquisition of an independent industrial gas and welding supply distributor in East Texas.
The $2.5m acquisition will expand MagneGas’ geographic footprint in the East Texas market, which is home to a large number of industrial and shipping companies.
“With this acquisition, we are researching significant economies of scale and market dominance in East Texas,” said Scott Mahoney, CEO of MagneGas.
“Together with our prior four acquisitions in the region in 2018, we now operate one of the largest independent industrial gas distributors in the region and have access to thousands of consistent consumers of industrial gas products.”
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