Linweld sold to N.J. company
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By RODD CAYTON/Lincoln Journal Star
Linweld, a Lincoln supplier of industrial gases and welding goods, will be sold to a New Jersey company, Linweld announced Thursday.
Terms were not disclosed.
Founded in 1945, Linweld is owned by the family of John Breslow, former state auditor.
The sale to Matheson Tri-Gas of Parsippany, N.J., should close by August, Linweld said in an announcement.
Matheson Tri-Gas said it plans to make no changes to the management or work force at Linweld, which will retain its name and operate separately.
Officials for Matheson Tri-Gas could not be reached for comment.
Matheson Tri-Gas is owned by Tokyo-based Taiyo Nippon Sanso Group, which describes itself as “Japan’s largest and strongest producer of industrial gases.”
That strength, Linweld general counsel Bob Caldwell said, will prove to be a boon to Nebraska. He said Matheson Tri-Gas will bring new products and technology to Linweld.
“We are excited about the new resources we gain with a national player such as Matheson Tri-Gas Inc., as well as becoming part of the global Taiyo Nippon Sanso Group,” Caldwell said.
The acquisition makes sense for Matheson Tri-Gas, Caldwell said, because that company has no operations in the central part of the United States.
There are no concrete plans for expansion on the table now, Caldwell said, but Linweld has grown steadily throughout its history, and, now backed by Matheson Tri-Gas assets, will be able to continue that growth.
As recently as January, Caldwell told the Lincoln City Council, as it protested proposed electric rates, that Linweld was considering building a new plant.
Linweld is investigating building a new gas production plant, Caldwell said, but it is in the early stages, and doesn't have anything planned.
Linweld employs 166 people at its corporate office and store in Lincoln and two gas production plants in Waverly, Caldwell said. About 260 of its 500 total employees work in Nebraska. The company operates 27 stores and three production plants in 10 states. The third plant is in Oakland, Neb.
Breslow could not be reached for comment, but in a statement announcing the sale, he attributed the family’s desire to sell in part to their relocation to Las Vegas three years ago.
“My wife and I felt it would best serve the company, its customers and its employees if they could be associated with a larger group that would enable the business to continue its impressive growth and prosperity,” Breslow said in the statement. “We believe Matheson Tri-Gas will provide the environment to take the company to the next level of success.”
The company was begun by Breslow’s father, David, who died in 1979.
John Breslow served as state auditor from 1991 to 1999. He ran for governor in 1998 and was defeated in the Republican primary election by eventual winner Mike Johanns.
Journal Star archives contributed to this report. Reach Rodd Cayton at 473-7107 or rcayton@journalstar.com.
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