Lincoln Electric has announced plans to acquire Air Liquide’s subsidiary, Air Liquide Welding.
The proposed acquisition is subject to a definitive agreement between the parties and customary conditions and provisions for a transaction of this type, including the “information-consultation” process with the employee representative bodies and the applicable competition authorities’ approval.
As the parties have not yet reached a definitive agreement regarding the transaction, there can be no assurance that a definitive agreement will be entered into, or that a transaction will be consummated.
J.P. Morgan Securities LLC is acting as the financial advisor and Jones Day is acting as legal advisor to Lincoln Electric.
Air Liquide’s subsidiary, Air Liquide Welding, is a key player in the manufacturing of welding and cutting technologies. Air Liquide Welding, which has approximately 2,000 employees across the world, has generated in 2016 a turnover of around €350 million. It offers, through several internationally well-known brands (SAF-FRO and OERLIKON in the industrial field, CEMONT for professionals), a large range of related equipment, consumables and services on the market.
Lincoln Electric designs, developes and manufactures arc welding products, robotic arc welding systems, plasma and oxyfuel cutting equipment and has a global position in the brazing and soldering alloys market. Headquartered in Cleveland, OH, Lincoln has 47 manufacturing locations, including operations and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries.
