Exhibit 99.1

FOR IMMEDIATE RELEASE

For more information, contact:
Debbie Bockius
636-728-3031

THERMADYNE HOLDINGS CORPORATION ANNOUNCES
2011 SECOND-QUARTER RESULTS

ST. LOUIS, MO – August 12, 2011 – Thermadyne Holdings Corporation today reported results for the three and six months ended June 30, 2011.

OVERVIEW

		Three Months												Six Months
		2011				2010				%				2011				2010				%
($ millions )		Successor				Predecessor				Incr(Decr)				Successor				Predecessor				Incr(Decr)
Net Sales		$	129.3			$	108.6				19.0	%		$	245.8			$	205.2				19.8	%
Net Income		$	6.0			$	2.6				132.0	%		$	5.9			$	4.9				21.5	%
Adjusted EBITDA		$	25.8			$	15.1				70.5	%		$	43.2			$	28.6				50.9	%

Basis of Presentation

On December 3, 2010, Thermadyne Holdings Corporation (Company) was acquired by affiliates of Irving Place Capital. Although the Company continued as the same legal entity, the assets acquired and liabilities assumed were adjusted to fair value as of December 3, 2010, except for deferred income tax liabilities, in accordance with the accounting guidance for business combinations. For accounting purposes, the old reporting entity was terminated and a new reporting entity was created. Accordingly, the consolidated financial statements are presented for the entity succeeding the acquisition (“Successor”) and the entity preceding the acquisition, (“Predecessor”) for the period ending June 30, 2011 and 2010, respectively.

Financial Review for the Second Quarter Ended June 30, 2011

Net sales in the second quarter of 2011 were $129.3 million, an increase of 19.0% as compared to the second quarter of 2010. Stated in local currencies, net sales increased 13.9% with U.S. sales increasing 21.2% and international sales increasing 5.4%.

Gross margin in the second quarter of 2011 was 37.0% of net sales as compared to 34.0% of net sales in the prior year second quarter. During the second quarter of 2011, the Company recorded in cost of good sold $1.1 million of additional depreciation which relates to the fair value purchase accounting adjustment to equipment and facilities. In addition, the second quarter of 2011 includes $0.5 million of LIFO inventory accounting method expense. Excluding these non-cash expenses, gross margin, as adjusted, was 38.3% in the second quarter of 2011. Excluding LIFO inventory accounting method expense, the gross margin, as adjusted, was 34.0% in the second quarter of 2010.

Selling, general and administrative (SG&A) expenses were $27.7 million, or 21.4% of net sales, in the second quarter of 2011 compared to $24.7 million, or 22.8% of net sales, in last year’s second quarter. Approximately one-third of the increase in the SG&A expenses is attributable to each of foreign currency translation; increased consulting and management fees; and increased salary and benefit costs.

On June 14, 2011, the Company announced it will be relocating its plasma cutting and welding equipment manufacturing operations based in West Lebanon, New Hampshire, to its facilities in Denton, Texas and Hermosillo, Mexico. The Company expects to have substantially completed its relocation activities by December 31, 2011. The Company’s action is expected to eliminate approximately 100 positions at the West Lebanon location. The Company recorded pre-tax charges of $0.6 million in the second quarter of 2011 and expects ultimately to record aggregate pre-tax charges of approximately $7.5 million as a result of the plan to relocate its New Hampshire manufacturing operations. This will include approximately $3.3 million for employee termination and retention benefits and approximately $4.2 million in equipment and employee relocation costs, lease termination and employee training costs. The Company expects to incur the cash expenditures for substantially all the charges by the middle of 2012.

Interest expense was $6.1 million in the second quarter of 2011 and $5.9 million in the second quarter of 2010. The average outstanding indebtedness in the 2011 second quarter of $265 million was approximately $73 million higher than the average indebtedness outstanding during the prior year second quarter. The effective interest rate in the second quarter of 2011 of 9.0% was approximately 275 basis points less than in the second quarter of 2010.

For the 2011 second quarter, the income tax expense represented an effective income tax rate of 47.1% as compared to 24.6% in the prior year second quarter. The current year effective tax rate exceeds the federal statutory rate primarily due to the deemed U.S. taxation of foreign earnings without an offsetting benefit for foreign tax credits. For 2010, the effective tax rate of the Predecessor reflects the benefit of net operating loss carryovers to offset U.S. taxable income.

For the second quarter of 2011, the Successor earned net income of $6.0 million and the Predecessor earned net income of $2.6 million during the second quarter of 2010. The second quarter of 2011 reflects $2.7 million of pre-tax depreciation and amortization expenses related to the values assigned to assets in connection with the acquisition.

Financial Review of Continuing Operations for Six Months Ended June 30, 2011

Net sales for the six months ended June 30, 2011 were $245.8 million, an increase of 19.8% as compared with the net sales of $205.2 million in first six months of 2010. Stated in local currencies, net sales increased 15.7% with the U.S. sales increasing 23.3% and international sales increasing of 6.7%.

Gross margin in the six months ending June 30, 2011 was 33.0% of net sales as compared to 33.6% of net sales in the prior year’s first six month period. During the first half of 2011, cost of goods sold reflects $5.6 million of manufacturing costs associated with fair value purchase accounting adjustments for inventory and equipment and facilities. In addition, the first half of

2011 includes $1.5 million of LIFO inventory accounting method expense. Excluding these non-cash expenses, gross margin, as adjusted, was 35.9% in the first six months of 2011. The gross margin was 33.6% in the first six months of 2010, as adjusted to exclude the LIFO inventory accounting method expense.

SG&A expenses were $52.6 million, or 21.4% of net sales, and $46.1 million, or 22.5% of net sales, for the six months ended June 30, 2011 and 2010, respectively. Approximately one-third of the increase in the SG&A costs is attributable each to foreign currency translation; consulting and management fees; and increased incentive compensation, salary and benefit costs.

Interest expense was $12.4 million during the six-month period ended June 30, 2011, as compared to $12.3 million in the first six months of 2010. Average outstanding indebtedness was $68 million greater in 2011 and the effective interest rate of 9.2% in 2011 was approximately 270 basis points less than during the first six months of 2010.

For the six months ended June 30, 2011, the Company recorded income tax expense at an effective income tax rate of 47.7%, as compared to a 27.9% effective rate for the comparable 2010 period. The income taxes currently payable approximate 35% and are primarily related to foreign jurisdictions.

For the first six months of 2011, the Successor earned net income of $5.9 million and the Predecessor earned net income of $4.9 million during the first six months of 2010. The first six months of 2011 reflects pre-tax depreciation and amortization expense and cost of goods sold of $8.6 million related to the values assigned to assets in connection with the acquisition.

Cash Flows From Operating Activities and Liquidity

Cash flow from operating activities used $10.0 million of cash in the first six months of 2011 while the first six months of 2010 provided $28.8 million of cash. Cash used in operating activities in 2011, primarily reflects increases in customer receivables, payments of liabilities for customer rebates and payments of incentive compensation obligations. Cash provided from operating activities in 2010 included the benefit of the early payments of supplier invoices and customer rebates during the fourth quarter of 2009. These early payments reduced cash usage requirements by approximately $14 million in the first six months of 2010.

As of June 30, 2011, combined cash and availability under the Company’s Working Capital Facility was $67 million.

Adjusted EBITDA

In the second quarter of 2011, Adjusted EBITDA was $25.8 million, or 19.9% of net sales, compared to $15.1 million of Adjusted EBITDA, or 13.9% of net sales, in the second quarter of 2010 for the Predecessor. For the six months ended June 30, 2011, Adjusted EBITDA was $43.2 million, or 17.6% of net sales, compared to $28.6 million of Adjusted EBITDA, or 14.0% of net sales, in the first six months of 2010 for the Predecessor.

Outlook for 2011

Martin Quinn, Thermadyne’s Chief Executive Officer commented, “The strong U.S. market demand we experienced in the first quarter has continued through the second quarter along with solid demand in our international markets. We are encouraged by the strength of demand in the U.S., as well as in our Asia Pacific Region, and particularly for our plasma cutting products. However, we remain cautious in our production commitments for the remainder of this year due to the uncertainties in the global financial and market conditions.”

“In the second half of 2011, we will be focused on successfully completing the restructuring of our manufacturing operations to provide exceptional service for our customers and to maximize the efficiency of our operating assets,” concluded Mr. Quinn.

Use of Non-GAAP Measures

EBITDA, Adjusted EBITDA, and Gross Margin, as adjusted (“our Non-GAAP Measures”), as presented in this discussion, are supplemental measures of our performance that are not required by, or presented in accordance with, generally accepted accounting principles in the United States (“GAAP”). They are not measurements of our financial performance under GAAP and should not be considered as alternatives to net income, income from continuing operations or any other performance measures derived in accordance with GAAP or as alternatives to cash flow from operating activities as measures of our liquidity.

The Company defines “Adjusted EBITDA,” as earnings before interest, taxes, depreciation, amortization, LIFO adjustments, cost of sales charges for values in excess of manufactured costs assigned to inventory acquired December 3, 2010, stock-based compensation expense, severance accruals and restructuring costs and losses on debt extinguishments. Our Non-GAAP Measures may not be comparable to similarly titled measures of other companies. However, we believe these measures are meaningful to our investors to enhance their understanding of our operating performance across reporting periods on a consistent basis, as well as our ability to comply with the financial covenants of our existing material debt agreements and service our indebtedness. Although EBITDA and Adjusted EBITDA are not necessarily measures of our ability to fund our cash needs, we understand that they are frequently used by securities analysts, investors and other interested parties as measures of financial performance and to compare our performance with the performance of other companies that report EBITDA and Adjusted EBITDA. Adjusted EBITDA facilitates the reader’s ability to compare current period results to other periods by isolating certain noteworthy items of income or expense, such as those detailed in an attached schedule. Adjusted EBITDA is reflective of management measurements which focus on operating spending levels and efficiencies and less on the non-cash and noteworthy items.

Our Non-GAAP Measures have limitations as analytical tools and should not be considered in isolation or as substitutes for an analysis of our results as reported under GAAP. Other companies in our industry may calculate these measures differently than we do, limiting their usefulness as a comparative measure. Because of these limitations, our Non-GAAP Measures should not be considered as measures of discretionary cash available to use to invest in the growth of our business or as measures of cash that will be available to use to meet our obligations. Investors should compensate for these limitations by relying primarily on our GAAP results and using our Non-GAAP Measures as supplemental. We provide a presentation of net

income (loss) as calculated under GAAP, which we believe is the most directly comparable GAAP measure, reconciled to our EBITDA and Adjusted EBITDA in the schedule below. We also provide a reconciliation of gross margin as reported within the Condensed Consolidated Statements of Operations to Gross Margin, as adjusted.

The financial statement information presented in accordance with GAAP and the Non-GAAP Measures have not been reviewed by an independent, registered public accounting firm.

Conference Call

Thermadyne will hold a teleconference on August 15, 2011 at 11:00 a.m. Eastern.

To participate via telephone, please dial:

	•		U.S. and Canada: 1-888-989-7543
	•		International: 1-630-395-0287 (Conference ID 3444448 / Passcode: THERMADYNE)

Those wishing to participate are asked to dial in ten minutes before the conference begins. For those unable to participate in the live conference call, a transcript of the call will be posted to the Thermadyne website at www.Thermadyne.com within 24 hours following the call.

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.

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management’s current expectations and involve a number of risks and uncertainties. Actual results may differ materially from such statements due to a variety of factors that could adversely affect the Company’s operating results. These risks and factors are set forth in documents the Company files with the Securities and Exchange Commission, specifically in the Company’s most recent Annual Report on Form S-4 and other reports it files from time to time.

THERMADYNE HOLDINGS CORPORATION
FINANCIAL HIGHLIGHTS
(In thousands)
UNAUDITED

Schedule 1

Condensed Consolidated Statements of Operations

		Successor									Predecessor								Successor									Predecessor
		Three months									Three months								Six months									Six months
		ended				% of					ended				% of				ended				% of					ended				% of
		June 30, 2011				Sales					June 30, 2010				Sales				June 30, 2011				Sales					June 30, 2010				Sales
Net sales		$	129,269				100.0	%			$	108,596				100.0	%		$	245,766				100.0	%			$	205,213				100.0	%
Cost of goods sold			81,475				63.0	%				71,725				66.0	%			164,746				67.0	%				136,302				66.4	%
Gross margin (1)			47,794				37.0	%				36,871				34.0	%			81,020				33.0	%				68,911				33.6	%
Selling, general and administrative expenses			27,725				21.4	%				24,722				22.8	%			52,555				21.4	%				46,144				22.5	%
Amortization of intangibles			1,704				1.3	%				680				0.6	%			3,408				1.4	%				1,357				0.7	%
Restructuring			615				0.5	%				—				0.0	%			615				0.3	%				—				0.0	%
Operating income			17,750				13.7	%				11,469				10.6	%			24,442				9.9	%				21,410				10.4	%
Other income (expenses):
Interest			(6,056	)			(4.7	)%				(5,939	)			(5.5	)%			(12,353	)			(5.0	)%				(12,275	)			(6.0	)%
Amortization of deferred financing costs			(417	)			(0.3	)%				(251	)			(0.2	)%			(788	)			(0.3	)%				(515	)			(0.3	)%
Loss on debt extinguishment			—				0.0	%				(1,867	)			(1.7	)%			—				0.0	%				(1,867	)			(0.9	)%
Income before income tax provision (2)			11,277				8.7	%				3,412				3.1	%			11,301				4.6	%				6,753				3.3	%
Income tax provision			5,311				4.1	%				841				0.8	%			5,386				2.2	%				1,886				0.9	%
Net income		$	5,966				4.6	%			$	2,571				2.4	%		$	5,915				2.4	%			$	4,867				2.4	%

Notes: Successor statements of operations for the three and six months ended June 30, 2011 include incremental expenses related to values assigned to assets on December 3, 2010.

THERMADYNE HOLDINGS CORPORATION
FINANCIAL HIGHLIGHTS
(In thousands)

UNAUDITED

Schedule 2

		Successor				Successor
		June 30,				December 31,
		2011				2010
ASSETS
Cash and cash equivalents		$	10,666			$	22,399
Trusteed assets			—				183,685
Accounts receivable, net			77,674				62,912
Inventories			101,982				85,440
Prepaid expenses and other			15,081				11,310
Deferred tax assets			2,644				2,644
Total current assets			208,047				368,390
Property, plant and equipment, net			75,929				75,796
Goodwill			168,865				164,678
Intangibles, net			151,950				155,036
Deferred financing fees			14,039				14,553
Other assets			1,540				1,632
Total assets		$	620,370			$	780,085
LIABILITIES AND STOCKHOLDER’S EQUITY
Senior subordinated notes due 2014		$	—			$	176,095
Current maturities of long-term obligations			1,621				2,207
Accounts payable			39,388				26,976
Accrued and other liabilities			39,752				37,995
Accrued interest			1,092				9,184
Income taxes payable			3,236				4,155
Deferred tax liabilities			6,014				6,014
Total current liabilities			91,103				262,626
Long-term obligations, less current maturities			263,818				264,564
Deferred tax liabilities			78,594				74,832
Other long-term liabilities			13,038				14,659
Total stockholder’s equity			173,817				163,404
Total liabilities and stockholder’s equity		$	620,370			$	780,085

		Successor				Successor
		June 30,				December 31,
Long-term Obligations		2011				2010
Senior Secured Notes due December 15, 2017, 9% interest payable semi-annually on June 15 and December 15		$	260,000			$	260,000
Senior Subordinated Notes, due February 1, 2014, 9 1/4% interest payable semiannually on February 1 and August 1			—				176,095
Capital leases			5,439				6,771
Long-term obligations			265,439				442,866
Current maturities and working capital facility			(1,621	)			(178,302	)
Long-term obligations, less current maturities		$	263,818			$	264,564

THERMADYNE HOLDINGS CORPORATION
FINANCIAL HIGHLIGHTS
(In thousands)

UNAUDITED

Schedule 3

Condensed Consolidated Cash Flow Data

		Successor					Predecessor
		Six Months					Six Months
		Ended					Ended
		June 30, 2011					June 30, 2010
Cash flows from (used in) operating activities:
Net income		$	5,915				$	4,867
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization			12,487					6,831
Deferred income tax benefit			1,231					(2,268	)
Stock compensation expense			258					248
Restructuring costs, net of payments			396					—
Loss on debt extinguishment			—					1,867
Changes in operating assets and liabilities:
Accounts receivable, net			(13,599	)				(9,493	)
Inventories			(15,570	)				(6,834	)
Prepaids			(3,560	)				320
Accounts payable			12,783					23,426
Accrued and other liabilities			(463	)				10,276
Accrued interest			(8,092	)(1)				737
Other, net			(1,765	)				(1,132	)
Net cash provided by (used in) operating activities			(9,979	)				28,845
Cash flows from (used in) investing activities:
Capital expenditures			(7,915	)				(4,474	)
Other			(322	)				(253	)
Net cash used in investing activities			(8,237	)				(4,727	)
Cash flows from (used in) financing activities:
Use of Trusteed Assets for redemption of Senior Subordinated Notes			183,685					—
Repayment of Senior Subordinated Notes			(176,095	)				—
Repayments of Working Capital Facility			—					(1,142	)
Repayments of other long-term obligations			(1,394	)				—
Borrowings under Working Capital Facility			—					1,161
Repayments under Second-Lien Facility and other			—					(25,731	)
Other, net			(275	)				46
Net cash provided by (used in) financing activities			5,921					(25,666	)
Effect of exchange rate changes on cash and cash equivalents			562					(430	)
Total increase in cash and cash equivalents			(11,733	)				(1,978	)
Total cash and cash equivalents beginning of period			22,399					14,886
Total cash and cash equivalents end of period		$	10,666				$	12,908
Income taxes paid		$	5,325				$	2,252
Interest paid, including $8,688 for defeased Sr Subordinated Notes in 2011 (1)		$	21,713				$	11,405

THERMADYNE HOLDINGS CORPORATION
FINANCIAL HIGHLIGHTS
(In thousands)
UNAUDITED

Schedule 4

Reconciliations of Net Income (Loss) to EBITDA (1) and Adjusted EBITDA (1)

		Successor					Predecessor				Successor					Predecessor
		Three months					Three months				Six months					Six months
		ended					ended				ended					ended
		June 30, 2011					June 30, 2010				June 30, 2011					June 30, 2010
Net income		$	5,966				$	2,571			$	5,915				$	4,867
Plus:
Depreciation and amortization including deferred financing fees			6,326					3,390				12,487					6,858
Interest expense, net			6,056					5,892				12,353					12,175
Provision for income taxes			5,311					841				5,386					1,886
EBITDA (1)		$	23,659				$	12,694			$	36,141				$	25,786
LIFO method charges to cost of sales			530					—				1,500					115
Fair value adjustments to inventory acquired and sold during the Successor Period			—					—				3,344					—
Restructuring and other severances			736					98				774					361
Irving Place Capital management fees and expenses			705					—				1,197					—
Stock compensation expense			126					450				258					516
Loss on debt extinguishment			—					1,867				—					1,867
Adjusted EBITDA (1)		$	25,756				$	15,109			$	43,214				$	28,645
Percentage of Net Sales			19.9	%				13.9	%			17.6	%				14.0	%

     

THERMADYNE HOLDINGS CORPORATION
NET INCOME AND OTHER INFORMATION — TRAILING FIVE QUARTERS
(In thousands)
UNAUDITED

Schedule 5

														Pro Forma
		Successor												Combined Period (1)				Predecessor
		Three				Three				December 3, 2010				Three				October 1, 2010				Three				Three
		months ended				months ended				through				months ended				through				months ended				months ended
		June 30, 2011				March 31, 2011				December 31, 2010				December 31, 2010				December 2, 2010				September 30, 2010				June 30, 2010
Net sales		$	129,269			$	116,497			$	28,663			$	104,205			$	75,542			$	106,483			$	108,596
Cost of goods sold			81,475				83,271				21,910				72,727				50,817				69,826				71,725
Gross margin			47,794				33,226				6,753				31,478				24,725				36,657				36,871
Gross Margin % of Sales			37.0	%			28.5	%			23.6	%			30.2	%			32.7	%			34.4	%			34.0	%
SGA % of Sales			21.4	%			21.3	%			66.4	%			37.9	%			27.1	%			22.1	%			22.8	%
Net income (loss)		$	5,966			$	(51	)		$	(14,680	)		$	(18,232	)		$	(3,552	)		$	4,821			$	2,571
Other Information:
Gross Margin, as reported		$	47,794			$	33,226			$	6,753			$	31,478			$	24,725			$	36,657			$	36,871
Plus (Less): LIFO			530				970				58				(730	)			(788	)			—				—
Plus: Fair value adjustments to inventory			—				3,344				1,672				1,672				—				—				—
Plus: Additional depreciation due to acquisition			1,137				1,137				379				379				—				—				—
Adjusted Gross Margin, a non-GAAP measure		$	49,461			$	38,677			$	8,862			$	32,799			$	23,937			$	36,657			$	36,871
% of Sales			38.3	%			33.2	%			30.9	%			31.5	%			31.7	%			34.4	%			34.0	%
SG&A, as reported		$	27,725			$	24,830			$	19,044			$	39,496			$	20,452			$	23,549			$	24,722
Less: Additional depreciation due to acquisition			(333	)			(333	)			(111	)			(111	)			—				—				—
Less: Acquisition expenses			—				—				(11,990	)			(16,753	)			(4,763	)			—				—
Adjusted SG&A, a non-GAAP measure		$	27,392			$	24,497			$	6,943			$	22,632			$	15,689			$	23,549			$	24,722
% of Sales			21.2	%			21.0	%			24.2	%			21.7	%			20.8	%			22.1	%			22.8	%
Adjusted EBITDA, a non-GAAP measure		$	25,756			$	17,458			$	2,851			$	13,375			$	10,524			$	16,005			$	15,109
% of Sales			19.9	%			15.0	%			9.9	%			12.8	%			13.9	%			15.0	%			13.9	%
Cash Flows:
Net cash provided by/(used in) operating activities		$	(10,756	)		$	777			$	(7,657	)		$	11,994			$	19,651			$	(3,367	)		$	10,197
Capital expenditures			3,757				4,158				1,849				2,427				578				1,447				2,838
Cash Flow less capital expenditures		$	(14,513	)		$	(3,381	)		$	(9,506	)		$	9,567			$	19,073			$	(4,814	)		$	7,359