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Praxair Acquires Sermatech International
1:56 AM MDT | July 2, 2009 | Deepti Ramesh
Praxair says its Praxair Surface Technologies subsidiary has acquired Sermatech International (Pottstown, PA), a global supplier of protective coatings and advanced processes used on industrial and aviation gas turbines, from private equity firm Arsenal Capital Partners (New York). Financial terms of the deal were not disclosed. Sermatech serves the aerospace, defense, power generation and oil and gas markets, and it has operations in Canada, Germany, South Korea, U.K., and the U.S. The business generated sales of $116 million in 2008 and has 625 employees...
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