Chimney Rock Equity Partners has acquired Gas Clip Technologies, a Dallas-based supplier of portable gas detection devices used across industrial safety applications. Financial terms of the transaction were not disclosed.
Gas Clip develops user-friendly and cost-effective gas detection products designed to monitor ambient air and alert workers to dangerous gases or oxygen deficiencies. The company’s detectors are used across multiple industries including industrial operations, marine environments, utilities, refining, chemical processing, and water and wastewater.
The products are designed to help maintain safe working environments by continuously monitoring air composition and warning personnel of potentially hazardous conditions.
Chimney Rock Equity Partners is an Austin-based private equity firm focused on the North American lower middle market industrials sector. The firm targets investment opportunities across aerospace and defense, industrial products and services, and niche products and services, often applying a buy-and-build strategy to scale platform companies.
BlackArch Partners served as financial advisor to Chimney Rock in the transaction. Daniel Vermeire of Corporate Finance Associates served as financial advisor to Gas Clip.
KEY QUOTES
Gas Clip has pioneered the development of user-friendly, durable, and low-maintenance portable gas detection devices that position the Company as a leader in critical safety solutions for workers in a variety of end markets that have long-term secular tailwinds. Chimney Rock is already highly familiar with Gas Clip’s suite of user-friendly products based on their use by other current and former portfolio companies. We look forward to collaborating with Gas Clip to expand the offering by identifying opportunities to add new products, distributors, and geographies that will enhance the Company’s value.
Robert Aikman, Partner at Chimney Rock Equity Partners
We are excited to serve as the stewards for Gas Clip’s next phase of growth and are deeply appreciative and impressed by the efforts of Bryan Bates and Fonda Tosh, the Company’s founders, in building the highly successful Gas Clip organization that exists today.
William Bishop, Partner at Chimney Rock Equity Partners
