Lincoln Electric Holdings has acquired Vanair Manufacturing, which is based in Michigan City, Indiana. The manufacturer produces mobile power solutions serving the U.S. service truck market, including vehicle-mounted compressors, generators, welders, hydraulics, chargers/boosters, and electrified power equipment.
“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.”
Read more: Lincoln Electric launches latest multifunction engine drive
Vanair’s 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.
Vanair’s annual revenue is approximately $100 million with a low double-digit percent EBIT margin, and their results will be reported in the Americas Welding Segment.