Lincoln Electric Holdings Inc. has acquired Detroit's Baker Industries Inc. to complement its automation portfolio and its new metal additive manufacturing service business, which is launching in mid-2019. Baker is a privately held provider of custom tooling, parts and fixtures primarily serving automotive and aerospace markets.
“We are pleased to welcome Baker Industries to Lincoln Electric and to our automation portfolio’s new additive manufacturing platform,” Lincoln Electric CEO Christopher L. Mapes said. “Additive manufacturing is a key strategic growth area in automation, and Baker’s expertise and capabilities will assist in scaling our additive manufacturing services and expand our presence in attractive aerospace and automotive end markets.”
Here are some other notable details of the deal:
- Baker's operation, along with a new Cleveland, Ohio-based additive manufacturing development center, will provide an additive manufacturing platform to help customers improve their lead times, designs and quality in their operations.
- The new metal additive business will manufacture large-scale printed metal parts, prototypes and tooling for industrial and aerospace customers.
- Lincoln Electric’s automation revenue is approximately $500 million in annualized sales with the addition of Baker Industries.
- Terms of the transaction were not disclosed.