M&A Deal Summary

Worthington Cylinder Acquires Westerman

On September 17, 2012, Worthington Cylinder acquired energy services and equipment company Westerman for 70M USD

Acquisition Highlights
  • This is Worthington Cylinder’s 1st transaction in the Energy Services and Equipment sector.
  • This is Worthington Cylinder’s largest (disclosed) transaction.
  • This is Worthington Cylinder’s 5th transaction in the United States.
  • This is Worthington Cylinder’s 2nd transaction in Ohio.

M&A Deal Summary
Date 2012-09-17
Target Westerman
Sector Energy Services and Equipment
Buyer(s) Worthington Cylinder
Deal Type Add-on Acquisition
Deal Value 70M USD
Advisor(s) Amherst Partners (Financial)

Target

Westerman

Bremen, Ohio, United States
website
Westerman, Inc. is a manufacturer of highly technical products for global energy markets, including oil and gas and nuclear, where its energy products are used for a broad variety of exploration, recovery and production purposes.

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Buyer(S) 1

Buyer

Worthington Cylinder

Columbus, Ohio, United States

website

Category Company
Founded 1971
Sector Machinery
DESCRIPTION

Worthington Cylinder Corp. manufacturer of pressure cylinders, delivering products and value-added services to its customers designed to exceed their expectations in quality, service and value. Worthington Cylinders offers the most complete line of pressure cylinders in the industry, including storage of liquefied petroleum, refrigerant, oxygen and industrial gases.

DEAL STATS #
Overall 5 of 5
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Ohio) 2 of 2
Country (United States) 5 of 5
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-05 BernzOmatic

Columbus, Ohio, United States

BernzOmatic Corp. is a manufacturer and global marketer of hand-held torches, solder, accessories and related products, sold in retail and professional plumbing/ HVAC wholesale channels with strong brand recognition.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-15 Structural Composites Industries

Pomona, California, United States

Structural Composites Industries is a manufacturer of DOT-approved lightweight, aluminum-lined, composite-wrapped high pressure cylinders used in commercial, military, marine and aerospace applications. Structural Composites Industries was founded in 1971 and is based in Pomona, California.

Sell $20M
Mergr

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