Lincoln Electric Holdings, Inc. has acquired Overstreet-Hughes Company, Inc. and Shoals Tubular, Inc.
FTP and Shoals manufacture copper and aluminum headers, distributor assemblies and manifolds in the United States and Mexico for the HVAC sector and have combined annual sales of approximately $50 million. The addition of FTP and Shoals further differentiates The Harris Products Group’s competitive position serving HVAC OEMs with a comprehensive portfolio of solutions for the fabrication of HVAC coils, and the acquisition accelerates their growth in this attractive market.
“We are excited to welcome FTP and Shoals to Lincoln Electric and integrate their industry-leading offering and expertise into our Harris Products Group business,” said Christopher L. Mapes, Chairman, President and Chief Executive Officer. “Our combined portfolio now offers HVAC OEMs with the broadest portfolio of solutions and application expertise for high-quality and efficient HVAC coil fabrication,” Mapes continued, “The acquisition also positions HPG to better capitalize on the attractive HVAC growth opportunity as part of our Higher Standard 2025 Strategy.”
Terms of the transaction were not disclosed