EASOM AUTOMATION SYSTEMS, INC. HAS BEEN ACQUIRED BY LINCOLN ELECTRIC HOLDINGS INC. (NASDAQ:LECO)
Birmingham, Michigan – October 7, 2014 – Angle Advisors is pleased to announce that Lincoln Electric Holdings, Inc. (“Lincoln”) has acquired EASOM Automation Systems, Inc. (“EASOM” or the “Company”). Angle Advisors acted as the exclusive investment banking advisor to EASOM in completing this transaction.
Based in Madison Heights, MI, EASOM is a cutting edge, full service turnkey provider of automation systems. EASOM is a leading designer and builder of handling systems for large components used in vehicular and aerospace assembly plants, including multi-zone weld systems and cells, robotic transfer units, conveyors, drives and positioning systems. EASOM operates three plants in Michigan including an engineering, sales and technical center also in Madison Heights, MI. EASOM’s systems are used to automate welding, machining, drilling and assembly of extremely heavy, difficult to manipulate components where precision and speed are critical. The Company is recognized as a leader in custom and precision designed laser welding cells among other large-component applications. EASOM is comprised of approximately 130 highly skilled and technical employees.
"Our investment in EASOM advances our leadership position in automated welding and cutting," said Christopher L. Mapes, Chairman and Chief Executive Officer of Lincoln. "EASOM is a strong partner for us as our complementary strengths create a compelling offering for our customers and accelerates our market presence in attractive applications."
Reg Kelley, President of EASOM said, "EASOM Automation began over 30 years ago as a designer of heavy material handling systems. Over this time the Company built a tremendous design library of innovative solutions, patents, techniques and processes for handling and positioning heavy components with high precision. Our equipment can be found in automotive plants the world over, as well as steel mills, ship-building yards, aerospace assembly facilities, agricultural equipment producers and many other heavy-equipment manufacturing operations. My executive partners and I are proud to have built a Company whose capabilities and reputation extends well beyond our state and country borders. We selected Angle Advisors after responding to several unsolicited buyer inquiries ourselves, and we could not have made a better choice. In addition to bringing world-class strategic buyers from the U.S., Europe and Asia, Angle’s professionalism and energy resulted in a confidential process that brought outstanding results. We could not have found a better purchaser or steward for our business than Lincoln Electric, and we could not have done it without Angle’s persistence, excellent advice, and hard work."
Headquartered in Cleveland, OH, Lincoln Electric Holdings, Inc. is the world leader in the design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxy-fuel cutting equipment and has a leading global position in the brazing and soldering alloys market. Lincoln has 45 manufacturing locations, including operations and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries. For additional information, please visit www.lincolnelectric.com.
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions with a particular emphasis on the vehicular and industrial sectors. The firm's 35 professionals have completed 121 M&A transactions since the beginning of 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.