Lincoln Electric Acquires Kestra Universal Soldas, Indústria e Comércio, Importação e Exportação Ltda.

Rhea-AI Summary

Lincoln Electric Holdings (Nasdaq: LECO) has acquired Kestra Universal Soldas, a Brazilian manufacturer of specialty welding consumables and wear plates. This acquisition aligns with Lincoln's 2025 Higher Standard strategy, expanding its specialty alloys portfolio and services in South America. Kestra generates approximately USD $15 million in annual revenue. The transaction details remain undisclosed, but it is expected to enhance Lincoln's market position in industries such as mining and agriculture.

Positive

• Acquisition of Kestra expands specialty alloys portfolio.
• Enhances services in South America, supporting growth strategy.
• Kestra's annual revenue of approximately USD $15 million provides immediate financial contribution.

Negative

• None.

CLEVELAND, March 01, 2022 (GLOBE NEWSWIRE) -- Lincoln Electric Holdings, Inc. (Nasdaq: LECO) announced today that it has acquired Kestra Universal Soldas, Indústria e Comércio, Importação e Exportação Ltda. (“Kestra”), a privately held manufacturer headquartered in Atibaia, São Paulo State, Brazil. Kestra manufactures and provides specialty welding consumables, wear plates and maintenance and repair services for alloy and wear-resistant products commonly used in mining, steel, agricultural and industrial mill applications.

Kestra advances Lincoln Electric’s 2025 Higher Standard strategy in South America by broadening its specialty alloys portfolio and services. Kestra’s annual revenue is approximately USD$15 million. Terms of the transaction were not disclosed.

About Lincoln Electric

Lincoln Electric is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment, and has a leading global position in brazing and soldering alloys. Lincoln is recognized as the Welding Expert™ for its leading material science, software development, automation engineering, and application expertise, which advance customers’ fabrication capabilities to help them build a better world. Headquartered in Cleveland, Ohio, Lincoln has 56 manufacturing locations in 19 countries and a worldwide network of distributors and sales offices serving customers in over 160 countries. For more information about Lincoln Electric and its products and services, visit the Company’s website at https://www.lincolnelectric.com. 

FAQ

What is the purpose of Lincoln Electric's acquisition of Kestra?

The acquisition aims to enhance Lincoln Electric's specialty alloys portfolio and services, supporting its strategic growth in South America.

How much revenue does Kestra generate annually?

Kestra generates approximately USD $15 million in annual revenue.

What industries does Kestra serve?

Kestra provides products and services for mining, steel, agriculture, and industrial mill applications.

What is Lincoln Electric's strategy for 2025?

Lincoln Electric's 2025 Higher Standard strategy focuses on broadening its product offerings and expanding in key markets like South America.