According to an article from LPGasmagazine.com, American Welding & Gas (AWG), an independently owned producer and distributor of industrial, medical and specialty gases, purchased Medical Gas Supply, which does business as Bestway Welding Supply.
“The AWG brand is nationally recognized for excellent customer service, loyalty to employees and, above all else, operating with integrity,” says Ernest “Cotton” Speed III, president of Bestway. “I can’t think of a better partner to help Bestway’s employees usher in this next phase of growth.”
Speed has participated in the sale of more than a half-dozen operating businesses in the industrial, medical and specialty gases space. After selling his prior venture in late 2014, Speed acquired Bestway in early 2016 and established the business as a regional player serving customers in the greater Houston area and surrounding regions.
Joined by Merced Cavazos, vice president of operations, and Jake Juker, head of sales, Speed expanded Bestway’s distribution capabilities, namely its entry into the bulk distribution market.
“We are very pleased to welcome Bestway and their impressive team to AWG,” says Jason Krieger, president and CEO of AWG. “Their focus on service first has provided them great growth in Houston. It also aligns well with our mission of providing productivity solutions for our clients with superior customer service. Together, we have a strong platform for growth in Texas.”
Matrix Capital Markets Group managed the transaction. Matrix’s team included David Shoulders, managing director and head of consumer and industrial investment banking; William O’Flaherty, director; John Mosser, associate; Matt Oldhouser, senior analyst; and Duncan Rogers, analyst.
Balch & Bingham served as legal counsel for Bestway.