Matrix Capital Markets Group, an independent investment bank, advised in the sale of Medical Gas Supply, d/b/a Bestway Welding Supply to American Welding & Gas (AWG), an independently owned producer and distributor of industrial, medical and specialty gases.
“The AWG brand is nationally recognized for excellent customer service, loyalty to employees, and above all else operating with integrity. I can’t think of a better partner to help Bestway’s employees usher in this next phase of growth,” Ernest (Cotton) Speed, III, president of Bestway, said. “The team at Matrix has been exceptional in every respect. The level of service and support I received was incredible, and they were able to create immense value for my business during the transaction process.”
The transaction was managed by David Shoulders, managing director and head of consumer and industrial investment banking; William O’Flaherty, director; John Mosser, associate; Matt Oldhouser, senior analyst; and Duncan Rogers, analyst.
“It’s been a pleasure to work with Cotton on this engagement. His passion for his business and the industry is truly contagious. We’re thrilled to have achieved a successful outcome for him and Bestway,” Shoulders said.
Speed is an industrial, medical and specialty gas industry veteran, having participated in the sale of more than a half-dozen operating businesses. After selling his prior venture in late 2014, Speed acquired Bestway in early 2016. Joined by Merced Cavazos, vice president of operations, and Jake Juker, head of sales, Speed expanded Bestway’s distribution capabilities, namely its entry into the bulk distribution market.
“We are very pleased to welcome Bestway and their impressive team to AWG. Their focus on service first has provided them great growth in Houston. It also aligns well with our mission of providing productivity solutions for our clients with superior customer service. Together, we have a strong platform for growth in Texas,” Jason Krieger, president and CEO of AWG, said.
Balch & Bingham served as legal counsel for Bestway.