Graham Adds Cryogenic Experts to Acme

Acme Cryogenics, a portfolio company of Graham Partners, has acquired Cryogenic Experts. Graham Partners acquired Acme Cryogenics in April 2016 from Gladstone Investment Corporation.

Acme Cryogenics is a manufacturer of products and a provider of field services used in the production, distribution, and storage of cryogenic liquids and industrial gases. Acme’s customers operate in the healthcare and medical, food and beverage, aerospace, hydrogen fuel cell technology, and liquefied natural gas sectors. The company is based in Allentown, PA (www.acmecryo.com).

Cryogenic Experts (CEXI) is a designer and manufacturer of industrial vaporizers for all types of cryogenic and non-cryogenic specialty fluids. The company’s products are used in aerospace, military, food and beverage, industrial, electronic and medical applications. CEXI was founded in 1971 and is headquartered near Los Angeles in Oxnard, CA (www.cexi.com).

CEXI was founded in 1971 by Robert Worcester, Sr. and today is led by Rob Worcester, Jr. “Graham’s family history and vision for the Acme platform resonated with our team,” said Mr. Worcester. “We are enthusiastic about the partnership and look forward to continuing our tradition of excellence on the West Coast.”

The buy of CEXI expands Acme’s competitive position in a number of markets, such as liquefied natural gas, and expands its geographic footprint to the West Coast. “The acquisition of CEXI underscores our investment thesis to build a leading national provider of essential cryogenic gas products and services to high-growth industries,” said Josh Wilson, a managing principal at Graham Partners. “We look forward to leveraging CEXI’s in-house design and engineering capabilities and proprietary technology to continue to grow the combined business.”

“CEXI is an excellent example of Graham Partners completing add-on acquisitions that support a platform company’s core strategic objectives; this is an important component of our investment strategy,” said Steven Graham, CEO of Graham Partners.

Graham Partners acquires companies with EBITDA between $5 million and $50 million and will invest in smaller companies as add-on acquisitions to existing portfolio companies. The firm is sponsored by the Graham Group, an industrial and investment concern with interests in plastics, packaging, machinery, building products, and outsourced manufacturing. Graham Partners was founded in 1988 and is headquartered in Philadelphia (www.grahampartners.net).

© 2019 Private Equity Professional | January 31, 2019

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