LINCOLN ELECTRIC HOLDINGS INC acquires Soldering and brazing business of Worthington Industries, Inc.
Snapshot
LINCOLN ELECTRIC HOLDINGS INC acquired Soldering and brazing business of Worthington Industries, Inc. for Not disclosed (annual revenue of acquired assets ~$25 million) in February 2019. Soldering and brazing business of Worthington Industries, Inc. is a United States-based The Harris Products Group business.
- Acquirer
- LINCOLN ELECTRIC HOLDINGS INC
- Target
- Soldering and brazing business of Worthington Industries, Inc.
- Value
- Not disclosed (annual revenue of acquired assets ~$25 million)
- Date
- February 2019
- Type
- asset purchase
- Status
- ready
The deal at a glance
About this deal
LINCOLN ELECTRIC HOLDINGS INC acquired Soldering and brazing business of Worthington Industries, Inc. for Not disclosed (annual revenue of acquired assets ~$25 million), a transaction completed in February 2019. The deal was a asset purchase.
Soldering and brazing business of Worthington Industries, Inc. operates in The Harris Products Group, is based in United States, had revenue of about approximately $25 million annual revenue (acquired assets). Lincoln acquired the soldering business of Worthington Industries, Inc. (NYSE: WOR) and, under a separate purchase agreement, certain brazing assets from Worthington. The acquired assets generate approximately $25 million in annual revenue and add premium solders and fluxes to the Harris Products Group portfolio.
The acquisition creates the broadest soldering and brazing portfolio in the industry, allowing Lincoln to better serve customers, accelerate growth in the retail channel and richen the mix of its Harris business.
Premium solders and fluxes that broaden Harris consumables and grow the retail channel. The Harris Products Group
No advisory firms have been disclosed for this transaction.