NEW YORK, Jan. 5, 2022 /PRNewswire/ — Meritus Gas Partners (“Meritus”) announced today that it has entered into a partnership with Mitchell Welding Supply Co. (“Mitchell”), a leading independent distributor of industrial gases, welding and safety supplies headquartered in Terrell, Texas. Financial terms of the transaction were not disclosed.
Founded in 1964, Mitchell operates four locations in the Dallas-Fort Worth area, including its headquarters and primary cylinder filling plant in Terrell and retail stores in Garland and Seagoville. Mitchell is led by principal owners and siblings, Rodney Wray and Jane Lucas, who will remain with the business following the transaction and maintain significant equity ownership in Meritus.
“Our father Benson Mitchell and his brother-in-law James Briggs founded and grew the Mitchell business on the basis of honest and fair business practices and superior customer service,” said Rodney Wray, Mitchell’s President. “That steadfast commitment to integrity and exceptional service was passed down to my sister Jane and me. We have continued to grow Mitchell based on those tenets and as a result, are proud of the loyalty we have earned from a terrific group of dedicated employees and customers.”
Rodney Wray continued, “We sought to honor our father’s philosophy and legacy when we contemplated Mitchell’s future and partnering with Meritus was the clear next step in our strategic evolution. Their support will enable the business to reach new heights while allowing us to operate as we have historically – we will maintain the legacy Mitchell brand while remaining focused on our commitment to our best-in-class employees and loyal customers.”
“We are excited to become a part of this national federation of strong companies and are energized about the future of Mitchell,” added Jane Lucas, Mitchell’s Vice President. “As a partner of Meritus, we gain access to the professional resources, network and expertise of a larger organization which will help accelerate our business growth and expand our service offerings to our customers. We look forward to learning from and growing with our partners at Meritus through the sharing of best practices while also leveraging vendor relationships and customer leads.”
“We are thrilled to welcome Mitchell into the Meritus family,” said Meritus’ Chairman, Scott Kaltrider. “Mitchell is a premier distributorship in the Dallas-Fort Worth area, which is one of the top five industrial gas and welding markets in the U.S. The business has a long history of consistent growth, especially over the last few years despite the economic challenges and supply chain disruptions caused by the pandemic. Its track record of growth is a testament to the leadership’s and employees’ commitment to superior customer service. We look forward to further investing in the Mitchell business, expanding its capabilities and infrastructure and growing its geographic footprint to further capitalize on the tremendous growth opportunities the Dallas-Fort Worth market offers.”
About Meritus Gas Partners
Founded in December 2020, AEA Investors formed Meritus to assemble a national federation of high-quality independent distributors of industrial, medical, and specialty gases and welding and safety supplies, located in diverse geographies and serving growing end-markets. Meritus will partner with exceptional businesses and management teams, allow them to remain independent and entrepreneurial, and support them to accelerate growth, improve business quality and enhance value. Owners are invited to invest meaningful equity into the Meritus holding company to allow them to share in the success of the overall platform. Visit us online at www.MeritusGas.com.
About AEA Investors
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. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 100 investment professionals operate globally with offices in New York, Stamford, San Francisco, London, Munich and Shanghai. The firm manages funds that have over $14 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies, growth capital and mezzanine and senior debt investments.