We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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Employees at Broomfield-based Pentras Inc. are expected to continue working for the company, which makes compressed-air pressurization equipment for telecommunications-industry clients that is similar to that made by Puregas, said Dianne Van Oster, the spokeswoman. The equipment is used to provide dry, pressurized air to improve performance of telecom equipment.
A Pentras service center in New Jersey is expected to remain open, Van Oster said. Other details about the transaction – including Pentras’ number of employees – were not immediately available.
Puregas’s telecommunications industry clients such as CenturyLink Inc. (NYSE: CTL), based in Monroe, Louisiana; Verizon Communications Inc. (NYSE: VZ and Nasdaq: VZ) based in New York; and Frontier Communications Corp. (Nasdaq: FTR), based in Marion, Ohio, Van Oster said.
Puregas LLC has been a division of Altec Industries Inc. in Birmingham, Alabama, since 2003. Altec makes aerial devices and digger derricks for electric utility, tree-care and telecommunication industries used in more than 100 countries, according to information on both company websites.