Bluehenge Capital Invests in B&J Welding Supply
BATON ROUGE, Louisiana (April 16, 2024) – Bluehenge Capital Partners (Bluehenge) is pleased to announce its investment in B&J Welding Supply (“B&J”). B&J is the largest independent packaged gas and welding hardgoods distributor in West Texas. Bluehenge provided debt and equity capital to facilitate the acquisition of B&J by Cordatus Capital, a Dallas-based private investment fund.
Bluehenge is excited to partner with Cordatus Capital as well as B&J’s management team who will continue to be involved in the business. B&J’s CEO, Jason Jones, will continue to serve as the company’s CEO and provide additional value as a board member and shareholder. Kevin Lippincott, Partner at Cordatus, stated, “B&J Welding Supply has differentiated itself with exceptional customer service, product quality and industry relationships. We are excited to partner with Jason and the exceptionally strong team at B&J Welding Supply to support its next phase of growth.”
In conjunction with the partnership with B&J Welding Supply, Cordatus formed American Gas Group to specifically pursue further acquisition opportunities across the packaged gas industry. American Gas Group seeks to partner with best-in-class independent packaged gas distributors with the goal of preserving the independent mindset, entrepreneurial spirit and family legacy commonly found in the packaged gas industry.
Robert S. “Robby” Smith has joined American Gas Group as the President of Acquisitions and Business Development. Smith started his career in the packaged gas industry, guiding his family’s business, Bob Smith Gas Products, to a successful sale to Praxair. Having firsthand experience, Smith understands the challenges and decisions that family-owned packaged gas distributors face. The team is excited to craft tailored solutions for independent packaged gas distributors.
Bluehenge believes the company is set expand its product offering and geographic presence under Cordatus’ ownership. Albert Alexander, Director at Bluehenge, commented, “Since its founding, the B&J team has built a best-in-class operator within the packaged has industry by demonstrating a commitment to exceptional customer service. The company is well-positioned to leverage Robby’s deep industry relationships to continue building out the AGG platform.”
About Bluehenge Capital Partners
Bluehenge Capital Partners is a Baton Rouge, Louisiana-based private equity and private credit investment firm offering creative capital solutions for lower middle-market businesses across various industries. In partnership with the US Small Business Administration, Bluehenge has raised over $420 million of capital in pursuit of its strategy. The Bluehenge team has a long history providing capital for buyouts, acquisitions, and growth to companies across a nationwide footprint. For additional information, please visit bluehenge.com.
About B&J Welding Supply, LTD
Founded in 1977 by Bob Jones in Lamesa, TX, and now headquartered in Lubbock, TX, B&J Welding Supply is the leading independent packaged gas distributor in West Texas with six locations in the area. B&J Welding Supply provides industrial and medical gases, propane, specialty chemicals and welding supplies to customers across end markets. B&J Welding Supply continues to adapt to the ever-changing market and customer demands while providing customers with innovative experiences while remaining committed to maintaining the personalized touch and attention to detail that customers have grown to expect. For additional information, please visit bjweldingsupply.com.
About Cordatus Capital
Founded in 2012, Cordatus Capital is a private investment firm based in Dallas, Texas. Cordatus is a flexible capital provider focused on – but not limited to – control equity investments in lower-middle market companies. Cordatus typically invests alongside great management teams in cash flowing businesses with $25-$150 million of revenue and has invested across various industries. Cordatus is currently specifically targeting add-on opportunities in food co-packing, construction materials and packaged gas distribution. For additional information, please visit cordatuscapital.com.
###