LINCOLN ELECTRIC HOLDINGS INC acquired Powermig Automacao e Soldagem Ltda. for Not disclosed, a transaction completed in May 2023.
Powermig Automacao e Soldagem Ltda. operates in International Welding (Brazil automation), is based in Caxias do Sul, Rio Grande do Sul, Brazil, had revenue of about approximately USD$15 million annual revenue. Powermig is a privately held automation engineering firm headquartered in Caxias do Sul, Rio Grande do Sul state, Brazil, with annual revenue of approximately USD$15 million, specializing in industrial welding automation solutions for the heavy industry and transportation sectors.
The addition expands Lincoln's automation capabilities and allows it to accelerate automation growth in the region as part of its Higher Standard 2025 strategy.
Expands welding-automation engineering capacity in the South American heavy-industry and transportation markets. Lincoln Electric automation portfolio
We are pleased to welcome the Powermig team into our industry-leading automation portfolio. The addition expands our automation capabilities and allows us to accelerate automation growth in the region as part of our Higher Standard 2025 strategy.Christopher L. Mapes, Chairman, President and CEO, Lincoln Electric
Advisory firms were not disclosed for this transaction.