Lincoln Electric (Nasdaq: LECO) has acquired Baltimore-based nickel alloy and stainless steel welding consumables manufacturer Techalloy, and partly acquired Nevada-based CNC cutting tables and accessories manufacturer Applied Robotics, trading under the brandname “Torchmate”.
The acquisitions were made under two separate deals.
The acquisition of Techalloy and its parent company, Central Wire Industries expands Lincoln’s product portfolio of alloy consumables required to service customers in North America and around the world.
Techalloy was reportedly target because its nickel alloy welding consumables are considered to be well-positioned for Lincoln’s high-growth energy and infrastructure segments.
Techalloy has annual sales of approximately US$70m and employs 55 people.
Lincoln’s substantial acquisition of Applied Robotics assets will see the company gain more ground in the CNC plasma and oxyfuel cutting systems market for small and medium-sized fabricators.
Torchmate reportedly pulls approximately US$13m in sales over a 12-month period and currently has 44 employees.
"Metal cutting is closely aligned with arc welding, and the addition of Torchmate will bolster our ability to provide cutting process solutions for our customers," said Lincoln chairman and chief executive officer John Stropk.
Torchmate chief executive officer Bill Kunz said the deal will significantly expand the CNC cutting tables and accessories manufacturer’s ability to reach fabricators throughout North America and worldwide.
Terms of both deals were not disclosed.
Lincoln Electric designs, developments and manufactures of arc welding products, robotic arc welding systems, plasma and oxyfuel cutting equipment and has a leading global position in the brazing and soldering alloys market.
Headquartered in Cleveland, Ohio, the company has 41 manufacturing locations, including operations and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries.