Praxair Distribution, Inc. (PDI), a subsidiary of Praxair, Inc., has executed a definitive agreement to acquire Houston, Texas-based Texas Welders Supply Company (TWSCO).
The companies had expected to close the transaction by 31st December (2011), subject to customary closing conditions. Financial terms of the transaction were not disclosed.
TWSCO, a long-time distributor of Praxair, is the largest independent gas and welding products distributor in the greater Houston area with projected 2011 sales of $56m and 130 employees. The company operates from four locations, including a state-of-the-art cylinder filling plant and specialty gas laboratory located in north Houston.
TWSCO was formed in 1983 and is majority-owned and controlled by the founding Chenoweth family.
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