The McLean Group Advises Angel Air Repair and Specialty Co., Inc. on its Sale to Industrial Air Tool, LLP
Lafayette, LA, September 2010 – Angel Air Repair and Specialty Co., Inc. (Angel Air), a New Iber ia, LA-based sales and service provider of pneumatic equipment, announced that it has been acquired by Industrial Air Tool, LLP , a leading industrial repair and distribution company widely known for its unsurpassed technical knowledge, applicati on experience and expertise. Financial terms of the transaction were not disclosed.
Established in 1971, Angel Air Repa ir provides and services all types of pneumatic equipment such as chemical injector, gas, liquid, solar and centrifugal pum ps; air compressors and air starters; material handling system s; a wide array of hoists and winches, and low and high pre ssure valves to oil and gas industries on land, offshore and internationally.
Angel Air will operate as a wholly owned subsidiary of Industrial Air Tool. The firm’s management team will stay in place during the transition while working to develop a broader pl atform for Industrial Air Tool in the pneumatic equipment marketplace.
“We are excited about bringing together two top mate rial handling distributors and service companies,” said the President of Angel Air. “Both companies’ worldwide buyer ne tworks, superior reputations and decades of experience coupled with Industrial Air Tools’ strong relati onships in the oil and chemical refining industries and Angel Air’s presence in the oil and gas industries position the merged firm for exponential growth going forward.”
The McLean Group acted as the excl usive financial adviso r to Angel Air. George Trappey, Managing Director, was the transaction’s lead banker.
ABOUT THE MCLEAN GROUP
The McLean Group, LLC, is a national, middle market investment bank headquartered in McLean, VA, that provides merger and acquisition (M&A), capita l formation, market intelligence, business valuation, litigation support, and exit planni ng services. The McLean Group serv es businesses generating up to $500 million in annual revenues. The firm has more th an 30 offices nationwide, serving domestic and international clients with a broad resume of successf ully consummated financial transactions. Securities transactions are cleared through The McLean Group’ s affiliate, McLean Securities, LLC, a FINRA Registered Broker Dealer and Memb er FINRA/SIPC. For more inform ation, visit www.www.mcleanllc.com.