Richmond, VA/Baltimore, MD – September 1, 2020 – Matrix Capital Markets Group, Inc. (“Matrix”), a prominent independent investment bank, announced the sale of Medical Gas Supply, LLC, doing business as Bestway Welding Supply (“Bestway”), to American Welding & Gas, Inc. (“AWG”), a leading independent producer and distributor of industrial, medical, and specialty gases.
Bestway’s President, Ernest “Cotton” Speed, III, expressed confidence in the new partnership, highlighting AWG’s commitment to customer service, employee loyalty, and integrity. He stated, “AWG is a perfect partner to support Bestway’s employees in this next growth phase.” Mr. Speed also praised Matrix’s role, noting, “The Matrix team provided exceptional service and added immense value throughout the transaction.”
The deal was managed by Matrix’s Consumer & Industrial Investment Banking team, led by Managing Director David Shoulders, along with William O’Flaherty, John Mosser, Matt Oldhouser, and Duncan Rogers. Mr. Shoulders commented, “Working with Cotton has been a pleasure, and we’re thrilled to achieve this successful outcome for him and Bestway.”
Since acquiring Bestway in 2016, Mr. Speed transformed the company into a regional leader capable of servicing major customers throughout the Houston, TX area. Together with Merced Cavazos, VP of Operations, and Jake Juker, Head of Sales, Mr. Speed expanded the company’s distribution capabilities, including entry into bulk gas distribution, positioning Bestway as a preferred provider across diverse industries.
AWG President and CEO, Jason Krieger, welcomed Bestway’s team, emphasizing their service-focused approach, which aligns with AWG’s mission of offering superior productivity solutions for clients. He stated, “Together, we have a strong platform for growth in Texas.”
Legal counsel for Bestway was provided by Balch & Bingham LLP.
