LINCOLN ELECTRIC HOLDINGS INC acquired Soldering and brazing business of Worthington Industries, Inc. for Not disclosed (annual revenue of acquired assets ~$25 million), a transaction completed in February 2019. The deal was a Asset purchase.
Soldering and brazing business of Worthington Industries, Inc. operates in The Harris Products Group, is based in United States, had revenue of about approximately $25 million annual revenue (acquired assets). Lincoln acquired the soldering business of Worthington Industries, Inc. (NYSE: WOR) and, under a separate purchase agreement, certain brazing assets from Worthington. The acquired assets generate approximately $25 million in annual revenue and add premium solders and fluxes to the Harris Products Group portfolio.
The acquisition creates the broadest soldering and brazing portfolio in the industry, allowing Lincoln to better serve customers, accelerate growth in the retail channel and richen the mix of its Harris business.
Premium solders and fluxes that broaden Harris consumables and grow the retail channel. The Harris Products Group
The addition of these consumables creates the broadest soldering and brazing portfolio in the industry. This acquisition will allow us to better serve our customers, accelerate growth in the retail channel and richen the mix of our Harris business.Christopher L. Mapes, Chairman, President and CEO, Lincoln Electric
Advisory firms were not disclosed for this transaction.