MECHANICSBURG, PA (December 10, 2007) Wind Point Partners, a private equity investment firm, has announced the acquisition of the Harsco GasServ group of gas technology businesses from Harsco Corporation. The acquisition includes Taylor-Wharton, compressed gas cylinders and cryogenic storage vessels; American Welding & Tank, propane tanks; Structural Composites Industries, filamentwrapped composite cylinders and Sherwood precision valve products. The four complementary businesses will operate collectively as Taylor-Wharton International (TWI) and form the world's leading technology, service and manufacturing network for gas applications involving pressure vessels and precision valves.
Robert E. Gadomski has been appointed to the position of Chief Executive Officer for TWI. The majority of the existing management team will remain in place as TWI's management team. Bob Gadomski is a high energy executive who worked at Air Products and Chemicals, Inc. for 34 years, most recently, as the Executive Vice President of the Gases and Equipment Group. He has comprehensive knowledge of the TWI product lines, markets and customers and has extensive manufacturing and engineering experience. After three years of consulting and university teaching, Bob is excited to return to the challenge of business building.
Mr. Gadomski commented that, "Wind Point is delighted to own the TWI businesses and will step-up investment in innovative new products, improved services and manufacturing efficiencies." He further noted that, "We recognize that substantial growth opportunities exist throughout the global gas marketplace and we will invest to improve TWI's relationships and technical capabilities. Our strategic approach to expanding TWI's worldwide footprint will also include future growth through acquisition."
Taylor-Wharton International operates 19 manufacturing, sales, warehouse and service facilities in 6 countries and markets its products in over 80 countries worldwide. Additional information about TWI can be located at www.taylorwharton.com ; www.awtank.com; www.scicomposites.com; www.sherwoodvalve.com.
Wind Point Partners is a private equity investment firm with $2 billion in capital under management. Wind Point focuses on partnering with top caliber management teams to acquire middle market companies with a clear path to value creation. Additional information is available at www.wppartners.com