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8-K - FORM 8-K - Victor Technologies Group, Inc. | c61622e8vk.htm |
EX-3.1 - EX-3.1 - Victor Technologies Group, Inc. | c61622exv3w1.htm |
EX-3.2 - EX-3.2 - Victor Technologies Group, Inc. | c61622exv3w2.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
THERMADYNE HOLDINGS CORPORATION ANNOUNCES COMPLETION OF ACQUISITION BY IRVING PLACE CAPITAL
ST. LOUIS December 3, 2010 Thermadyne Holdings Corporation (NASDAQ: THMD), a leading global
manufacturer and marketer of metal cutting and welding products and accessories, announces the
completion of its acquisition by Irving Place Capital (IPC), a middle-market private equity firm.
The transaction was previously announced on October 5, 2010. The transaction was approved by a
vote of Thermadynes shareholders on December 2, 2010.
Under the terms of the transaction, Thermadyne shareholders will receive $15.00 in cash for each
share of Thermadynes common stock. The companys common stock will cease trading on the NASDAQ
exchange and will be delisted.
Thermadynes executive leadership team, including President Martin Quinn, Chief Operating Officer
Terry Downes, Chief Financial Officer Steve Schumm, and Executive Vice President of Global
Operations Terry Moody, is continuing with and investing in the company.
The company also announced that Mike McLain has joined Thermadyne as Executive Chairman of the
board of directors. Prior to assuming this role, Mr. McLain spent more than 10 years in the
industrial products industry, serving as President, CEO, Director and Chairman of Aearo
Technologies, Inc. and more than 20 years in the consumer products industry, including serving as
President and CEO of DowBrands, Inc.
With our strong brands and recent new product introductions, we have exciting potential to build
on and grow our market presence, said Mr. Quinn. With Mike McLain and Irving Place Capital on
our team, I believe we can further enhance that potential and accelerate the companys success in
the global cutting and welding products market.
Mr. McLain commented, Thermadyne has demonstrated impressive performance in the global
marketplace. I am excited to work with the companys talented management team to execute our
strategic objectives, expand the business, and grow with our customers.
About Thermadyne
Thermadyne, headquartered in St. Louis, Missouri, is a leading global manufacturer and marketer of
metal cutting and welding products and accessories under a variety of leading premium brand names
including Victor®, Tweco® / Arcair®, Thermal Dynamics®, Thermal Arc®, Stoody®, TurboTorch®,
Firepower® and Cigweld®. For more information about Thermadyne, its products, and its services,
visit the companys website at www.thermadyne.com.
About Irving Place Capital
Irving Place Capital invests private equity capital in compelling buyouts, recapitalizations and
growth capital opportunities alongside superior management teams. Irving Place Capital focuses on
making control or entrepreneur-driven investments. Since its formation in 1997, Irving Place
Capital has been an investor in more than 50 companies and has raised over $4 billion of capital,
including its current $2.7 billion institutional fund. More information about Irving Place Capital
is available at www.irvingplacecapital.com.
Media Contacts
For Thermadyne:
|
For Irving Place Capital: | |
Debbie Bockius
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Mary Zimmerman or Christina | |
Thermadyne Holdings Corporation
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Stenson, Brunswick Group | |
636-728-3031
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212-333-3810 |