Lincoln Electric Holdings Inc. has acquired Coldwater Machine Co. and Pro Systems LLC, expanding its portfolio of automated cutting and joining solutions.
The acquisitions are the second and third in the last two weeks announced by the Cleveland-based manufacturer of welding products and equipment. Both companies were owned by Fort Wayne, Indiana-based North River Capital.
Based outside Dayton, Coldwater is a privately held flexible automation integrator and precision machining and assembly manufacturer serving end markets that use broad joining technologies such as laser and friction welding. Indiana-based Pro Systems is a privately held automation systems designer and integrator serving automotive, industrial, electrical and medical applications.
“Their expertise and experience accelerates our automation strategy and expands our presence in attractive aerospace and appliance end market applications," Lincoln CEO Christopher L. Mapes said in a statement. "Added scale, application expertise, extensive joining technologies, and assembly processes further differentiates Lincoln Electric’s advanced automation solutions and the broad array of solutions available to our customers.”
The combined annual revenue of the two acquired companies is approximately $55 million. Terms of the transaction were not disclosed.
