NEW YORK — September 13, 2024 (PRNEWSWIRE) — Meritus Gas Partners (“Meritus”) announced today that it entered into a partnership with Gulf Coast Gas & Equipment (“Gulf Coast Gas”), a leading independent distributor of packaged gases, bulk gases, and welding supplies headquartered in Houston, TX. Financial terms of the transaction were not disclosed.
Gulf Coast Gas serves the greater Houston area from its gas production and distribution facility and retail store in Houston, TX. Owners Robert Poulter and Brent Lacy will continue to lead the business following the transaction and will maintain equity ownership in Meritus.
“Brent and I started Gulf Coast Gas in 2017 to fill a void in the Houston area following significant consolidation among independent gas distributors,” said Poulter. “We saw an opportunity and, along with our dedicated employees, grew the business successfully. We chose Meritus as a partner to ensure Gulf Coast Gas continues to grow to new levels.”
Lacy added, “Meritus has a unique offering, as we can preserve our company’s brand and legacy and be a member of a larger, more diversified business. We are excited to be joining Meritus and look forward to utilizing Meritus’ resources and expertise to accelerate our growth and better serve our customers in the region.”
“Gulf Coast Gas is a great fit for Meritus, and we are excited to welcome Robert, Brent, and the entire team to Meritus,” said Meritus’ Chairman Scott Kaltrider. “Gulf Coast Gas is the perfect partner to support our growth in southern Texas, Houston, and the ship channel. We are confident that we can expand its capabilities and reach into new markets, including university research and food and beverage. Meritus is now one of the largest independent distributors in the U.S., and Gulf Coast Gas marks our 26th acquisition since our founding.”
Founded in December 2020, Meritus is a portfolio company of AEA Investors Small Business Private Equity. Meritus is assembling a national network 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.
AEA Investors 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, join its portfolio company boards, or act in other advisory roles. Today, AEA’s over 120 investment professionals operate globally with offices in New York, Stamford, San Francisco, London, Munich, and Shanghai. The firm manages funds that have approximately $19 billion of invested and committed capital including the leveraged buyouts of middle market and small business companies, growth capital, and private debt investments. AEA Small Business Private Equity (“AEA SBPE”) is a strategy within AEA that currently manages $3.5 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, visit www.aeainvestors.com.
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