Chimney Rock Equity Partners, an Austin-based private equity firm, has acquired Gas Clip Technologies, a supplier of portable gas detectors. Terms of the transaction were not disclosed.
Based in Dallas, Gas Clip provides gas detection products used in a wide variety of end markets such as industrial, marine, utility, refining, chemical processing, and water/waste water.
The company’s products are typically used to maintain a safe working environment, as they monitor the composition of ambient air and alert personnel to the presence of dangerous gases or a lack of oxygen that could be harmful or deadly to workers.
BlackArch Partners served as financial advisor to Chimney Rock and Daniel Vermeire with Corporate Finance Associates served as financial advisor to Gas Clip.
