LINCOLN ELECTRIC HOLDINGS INC acquires Kaynak Teknigi Sanayi ve Ticaret A.S. (Askaynak) - controlling stake
Snapshot
LINCOLN ELECTRIC HOLDINGS INC acquired Kaynak Teknigi Sanayi ve Ticaret A.S. (Askaynak) - controlling stake for Not disclosed in July 2019. Kaynak Teknigi Sanayi ve Ticaret A.S. (Askaynak) - controlling stake is a Turkey (EMEA)-based International Welding (EMEA) business.
- Acquirer
- LINCOLN ELECTRIC HOLDINGS INC
- Target
- Kaynak Teknigi Sanayi ve Ticaret A.S. (Askaynak) - controlling stake
- Value
- Not disclosed
- Date
- July 2019
- Type
- controlling-stake acquisition
- Status
- ready
The deal at a glance
About this deal
LINCOLN ELECTRIC HOLDINGS INC acquired Kaynak Teknigi Sanayi ve Ticaret A.S. (Askaynak) - controlling stake for Not disclosed, a transaction completed in July 2019.
Kaynak Teknigi Sanayi ve Ticaret A.S. (Askaynak) - controlling stake operates in International Welding (EMEA), is based in Turkey (EMEA), had revenue of about approximately USD$70 million annual revenue. Askaynak (Kaynak Teknigi Sanayi ve Ticaret A.S.), located in Turkey, is the country's leading supplier and manufacturer of welding consumables, arc welding equipment (including plasma and oxy-fuel cutting equipment) and robotic welding systems, generating approximately USD$70 million in annual revenue. Lincoln completed the purchase of the controlling stake.
The acquisition advances Lincoln Electric's regional growth strategy in Europe, the Middle East and Africa and strengthens its position in the region.
Market-leading Turkish welding franchise advancing EMEA regional growth. International Welding (EMEA)
No advisory firms have been disclosed for this transaction.