Lincoln Electric announced that it has acquired Vanair Manufacturing, LLC, a privately held, Michigan City, Ind.-based, manufacturer of mobile power solutions serving the U.S. service truck market.
Vanair offers a comprehensive portfolio of mobile power solutions, including vehicle-mounted compressors, generators, welders, hydraulics, chargers/boosters and electrified power equipment. Its extensive equipment portfolio complements Lincoln Electric's maintenance and repair consumable offering and builds upon the joint development equipment initiatives that the two companies have been pursuing.
"We are pleased to welcome the Vanair team to Lincoln Electric. Vanair is renowned for their leading high-quality manufacturing, innovation and engineering expertise in the fast-growing maintenance and repair service truck market," said Steven B. Hedlund, Lincoln Electric's president and chief executive officer. "By joining together, Lincoln Electric will capitalize on this channel opportunity to accelerate growth and broaden our technology platform for long-term value creation."
Vanair's annual revenue is approximately $100 million with a low double-digit percent EBIT margin, and its results will be reported in the Americas Welding Segment.
For more information, visit www.lincolnelectric.com.
