Lincoln Electric Holdings Inc. has acquired the soldering business of Worthington Industries Inc., a leading global diversified metals manufacturing company. This is the third acquisition by Lincoln Electric in 30 days (accompanying recent deals with Coldwater Machine Co. and Pro Systems LLC and Inovatech Engineering Corp.
The acquisition broadens Harris® Products Group’s portfolio of industry-leading consumables with the addition of premium solders and fluxes. Lincoln, through a purchase agreement, is also planning to acquire certain brazing assets from Worthington — a deal that could close by Feb. 1. The total annual revenue generated by the acquired assets would be approximately $25 million. No further deal terms were disclosed.
“The addition of these consumables creates the broadest soldering and brazing portfolio in the industry,” Lincoln Electric CEO Christopher L. Mapes said in a statement. “This acquisition will allow us to better serve our customers, accelerate growth in the retail channel and richen the mix of our Harris business.”