MagneGas Corp., a Tampa-area clean technology company in the renewable resources and environmental solutions industries, announced it has appointed Jack Armstrong as president of MagneGas Welding Supply LLC. This new entity will hold all current and future assets related to the company's gas and welding supply retail business including Equipment Sales and Services Inc. (ESSI).
Jack Armstrong has been employed by MagneGas since 2012 as executive vice president of industrial gas sales. In this capacity, Armstrong has nearly doubled sales of MagneGas' subsidiary ESSI since 2015, opened four new retail locations and expanded the company's distribution network across the country. Prior to joining MagneGas, Armstrong worked in various positions in capital markets as a licensed broker and banker with significant experience in mergers and acquisitions.
MagneGas has developed a strategy to grow revenues through organic growth and accretive acquisitions of other welding gas supply companies. The company is targeting select key U.S. markets as well as Florida and Indiana, where the company already has a strong sales force in place. The company believes that Armstrong's success in scaling the Company's industrial gas business, combined with his capital markets and merger & acquisition experience, positions him well to execute on the company's new growth strategy.
MagneGas has already identified several high-quality acquisitions. The key criteria for these acquisition targets include; a strong existing management team, a stable customer base, consistent profitability, and a scalable addressable market. The company has established MagneGas Welding Supply LLC as a wholly owned subsidiary to consolidate these operations as it pursues this acquisition strategy.
Ermanno Santilli, Chief Executive Officer of MagneGas, says, "Jack Armstrong's commitment to our company
and his successful execution scaling MagnGas' industrial gas business has been a driving factor for our decision to select him as President of MagneGas Welding Supply. As we embark on a new chapter in our Company, one that is heavily focused on acquiring accretive companies in the industrial gas market, we believe Jack is an ideal fit. The entire MagneGas team congratulates Jack on this new endeavor."
MagneGas owns a patented process that converts various renewables and liquid wastes into MagneGas fuels. These fuels can be used as an alternative to natural gas or for metal cutting. The company also sells equipment for the sterilization of biocontaminated liquid waste for various industrial and agricultural markets. In addition, the company is developing a variety of ancillary uses for MagneGas fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications. The company distributes MagneGas2 through Independent Distributors in the U.S. and through its wholly owned distributor, Equipment Sales and Services, Inc. (ESSI). ESSI has four locations in Florida and distributes MagneGas2, industrial gases and welding supplies.
No more results found. Jack Armstrong has been employed by MagneGas since 2012 as executive vice president of industrial gas sales. In this capacity, Armstrong has nearly doubled sales of MagneGas' subsidiary ESSI since 2015, opened four new retail locations and expanded the company's distribution network across the country. Prior to joining MagneGas, Armstrong worked in various positions in capital markets as a licensed broker and banker with significant experience in mergers and acquisitions.
MagneGas has developed a strategy to grow revenues through organic growth and accretive acquisitions of other welding gas supply companies. The company is targeting select key U.S. markets as well as Florida and Indiana, where the company already has a strong sales force in place. The company believes that Armstrong's success in scaling the Company's industrial gas business, combined with his capital markets and merger & acquisition experience, positions him well to execute on the company's new growth strategy.
MagneGas has already identified several high-quality acquisitions. The key criteria for these acquisition targets include; a strong existing management team, a stable customer base, consistent profitability, and a scalable addressable market. The company has established MagneGas Welding Supply LLC as a wholly owned subsidiary to consolidate these operations as it pursues this acquisition strategy.
Ermanno Santilli, Chief Executive Officer of MagneGas, says, "Jack Armstrong's commitment to our company
and his successful execution scaling MagnGas' industrial gas business has been a driving factor for our decision to select him as President of MagneGas Welding Supply. As we embark on a new chapter in our Company, one that is heavily focused on acquiring accretive companies in the industrial gas market, we believe Jack is an ideal fit. The entire MagneGas team congratulates Jack on this new endeavor."
MagneGas owns a patented process that converts various renewables and liquid wastes into MagneGas fuels. These fuels can be used as an alternative to natural gas or for metal cutting. The company also sells equipment for the sterilization of biocontaminated liquid waste for various industrial and agricultural markets. In addition, the company is developing a variety of ancillary uses for MagneGas fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications. The company distributes MagneGas2 through Independent Distributors in the U.S. and through its wholly owned distributor, Equipment Sales and Services, Inc. (ESSI). ESSI has four locations in Florida and distributes MagneGas2, industrial gases and welding supplies.