Cleveland-based Lincoln Electric Holdings Inc. (Nasdaq: LECO) has announced the acquisitions of two companies, one of which is located in Whitley County. Financial terms of the deal for Churubusco-based Pro Systems LLC and Coldwater Machine Company LLC in Ohio are not being disclosed.
Pro Systems is a more than 20-year-old company that designs and produces automation systems for the plastics industry that are used in automotive, industrial, electrical, and medical application. The company is a partner with Coldwater, which focuses on automation integration and precision machining and assembly manufacturing.
"We are pleased to welcome the Coldwater and Pro Systems teams into our growing automation portfolio," said Christopher Mapes, chief executive officer of Lincoln. "Their expertise and experience accelerates our automation strategy and expands our presence in attractive aerospace and appliance end market applications. 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."
Lincoln says the two companies have a combined annual revenue of $55 million.