Falcon Gases has secured a strategic majority investment from Odyssey Investment Partners and acquired Encore Gas & Supply as the first investment in its packaged gas distribution platform. Financial terms of both transactions were not disclosed.
Founded in late 2025, Falcon is building a large-scale independent packaged gas distribution platform through organic growth and acquisitions. Executives with experience across industrial gases and private equity-backed buy-and-build strategies lead the company.
Odyssey plans to work with Falcon’s management team to accelerate the company’s growth strategy and M&A activity. The private equity firm has experience investing in industrial distribution and uses a buy, build, and integrate approach across industrial and business services companies.
Encore gives Falcon an initial operating platform in Southern California. Founded in 2014 by industry veteran Ben Anderson and owner Kelly Park, Encore has grown into a regional gas and welding supplier operating through three locations.
Encore provides packaged gas cylinder distribution, bulk and microbulk gases, welding equipment and supplies, and technical services.
Falcon plans to continue acquiring and partnering with independent distributors while retaining a focus on customer service, employees and local operating relationships.
KEY QUOTES:
“These transactions create a strong foundation for Falcon to execute its strategy of becoming a high-growth, well-capitalized, and large-scale independent packaged gas distribution platform. We now have the ideal partners in place to build Falcon into a market leader, with Odyssey’s track record of supporting and growing industrial businesses, and Encore’s proven track record, outstanding reputation, and customer service.
Odyssey is the ideal investment partner for Falcon. Their deep capital base combined with their experience in similar businesses, and people-first approach is the perfect fit for the platform we are building.
Our approach is focused on not just acquiring businesses but forming partnerships with owners and managers to work cohesively to build Falcon together. Encore and Ben stand out as the perfect foundational partnership, and we are very excited to build with them. Encore has a track record of growth, exceptional customer service, and a deep belief that people and relationships are what drive success.”
Pete Jeffe, CEO of Falcon Gases
“Odyssey is proud to support the Falcon management team as it embarks on what we believe is an exciting growth initiative in the packaged gas sector. Our firm has a long history of investing in industrial distribution that will be highly valuable as the talented executives from Falcon and Encore build something unique within this market.”
Henry Bendit, Managing Principal at Odyssey Investment Partners
“We are excited to partner with Pete and the Falcon team to build a leading packaged gas and welding platform. As Encore enters its next phase of growth we will continue with the core belief that has made us successful to date: invest in customers, people, and assets, and the rest will take care of itself.”
Ben Anderson, President of Encore Gas & Supply
