updated 4/12/2011 5:18:21 PM ET 2011-04-12T21:18:21

ST. LOUIS, April 12, 2011 (GLOBE NEWSWIRE) -- Thermadyne Holdings Corporation today announced that the Company's Board of Directors has appointed Martin Quinn, Thermadyne's President, to the office of Chief Executive Officer, a position that has been vacant since August 2009. Mr. Quinn was appointed President in August 2009 and has spent over 26 years in positions of increasing responsibility with the Company, which was acquired by affiliates of Irving Place Capital in December 2010. Mr. Quinn also serves as a director of Thermadyne and its parent, Thermadyne Technologies Holdings, Inc.

Mike McLain, Thermadyne's Chairman of the Board of Directors, said, "Since his appointment as President in 2009 and through the sale of the Company and its transition from a publicly traded company to a privately held entity, Martin has done a terrific job as the company's senior operating executive showing strong leadership and the vision required to continue to drive the Company's key initiatives including a focus on customer service, world class engineering and new product development. He has every confidence of the Board of Directors to continue to lead the Company to achieve its long-term growth and profitability potential."

The Company also announced that Terry Downes, Executive Vice President and Chief Operating Officer, has decided to leave the Company to pursue other interests. "We would like to thank Terry Downes for his hard work, dedication and contributions to the Company and wish him every success in the future," Mr. Quinn said.

About Thermadyne

Thermadyne, headquartered in St. Louis, Missouri, is a leading global manufacturer and marketer of metal cutting and welding products and accessories under a variety of leading premium brand names including Victor®, Tweco® / Arcair®, Thermal Dynamics®, Thermal Arc®, Stoody®, TurboTorch®, Firepower® and Cigweld®. For more information about Thermadyne, its products and services, visit the Company's web site at www.Thermadyne.com .

The Thermadyne Holdings Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4937

CONTACT: Debbie Bockius

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