The deal, which will pay $15 for each share of the company’s common stock, was approved by Thermadyne shareholders Dec. 2.
Private equity firm Irving Place
Capital has finished its purchase of Thermadyne Holdings Corp., the company announced.
The deal, which will pay $15 for
each share of the welding products company’s common stock, was approved by Thermadyne
shareholders Dec. 2. The company will no longer be publicly traded.
company President Martin Quinn, Chief Operating Officer Terry Downes, Chief
Financial Officer Steve Schumm, and global operations Executive Vice President Terry
Moody are staying with Thermadyne and will become investors in it.
was also announced that Mike McLain has joined Thermadyne as executive board chairman.
McLain previously headed Aearo Technologies Inc. and DowBrands Inc.
our strong brands and recent new product introductions, we have exciting
potential to build on and grow our market presence,” Quinn said. “With
Mike McLain and Irving Place Capital on our team, I believe we can further
enhance that potential and accelerate the company’s success in the global
cutting and welding products market.”
Thermadyne deal complete
December 15, 2010