Lincoln Electric Holdings, Inc. (Nasdaq: LECO) has acquired Powermig Automação e Soldagem Ltda. (“Powermig”), a privately held automation engineering firm headquartered in Caxias do Sul, Rio Grande do Sul state, in Brazil. Powermig specializes in designing and engineering industrial welding automation solutions for the heavy industry and transportation sectors and has an annual revenue of approximately $15 million.
“We are pleased to welcome the Powermig team into our industry-leading automation portfolio,” stated Christopher L. Mapes, Lincoln’s Chairman, President and CEO. “The addition expands our automation capabilities and allows us to accelerate automation growth in the region as part of our Higher Standard 2025 strategy.”
Terms of the transaction were not disclosed.
