Lincoln Electric Acquires Vanair Manufacturing
The mobile power solutions manufacturer has been in business since 1972...
Lincoln Electric has acquired Vanair Manufacturing LLC, a privately held, Michigan City, Indiana-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, according to the company.
Vanair’s equipment portfolio complements Lincoln Electric’s maintenance and repair consumable offerings and builds upon the joint development equipment initiatives that the two companies have been pursuing, according to officials.
“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,” commented Steven B. Hedlund, Lincoln Electric’s president and chief executive officer. “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.
