PHILADELPHIA, November 1, 2016 – Graham Partners, a private investment firm focused on investing in businesses with advanced industrial technologies, innovative product offerings, and strong growth potential, is pleased to announce that its portfolio company, Acme Cryogenics (“Acme”), a designer and manufacturer of precision-engineered products and provider of field services for the cryogenic liquid and industrial gas industry, has acquired Northeast Services Inc. (“NES”). NES, which was identified as a target during due diligence, was completed within the first six months of Graham’s acquisition of Acme. With locations in New Jersey and Florida, NES specializes in providing cryogenic and industrial gas field services for many of Acme’s existing blue chip customers.
Graham’s investment thesis for Acme is premised on the adoption of specialty, engineered cryogenic products for mission-critical industrial gas applications. Additionally, outsourcing of equipment and service needs by industrial gas majors is expected to offer Acme considerable growth potential. NES expands Acme’s field service capabilities and geographic presence, creating significant cross-selling opportunities and adding experienced technicians to Acme’s team.
Josh Wilson, Managing Principal at Graham Partners, states, “Both of these businesses are trusted service providers to the majority of industrial gas majors, and this acquisition further solidifies the combined company’s customer relationships by expanding its service scope and adding complementary capabilities.”
About Acme (www.acmecryo.com)
Acme Cryogenics is a designer, manufacturer, and provider of precision-engineered products and field services for the production, distribution, and storage of cryogenic (extremely low temperature) liquids and industrial gases. Headquartered in Allentown, PA, Acme provides an extensive suite of products and services for customers across the entire industrial gas supply and distribution chain, in attractive end markets such as healthcare, food and beverage, aerospace, and general manufacturing.
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