Lincoln Electric Signs Definitive Agreement to Acquire Fori Automation, Inc.
The acquisition will accelerate Lincoln’s Higher Standard 2025 strategic goal of achieving $1 billion in automation sales by 2025 with the addition of new and innovative automated capabilities including large-scale assembly, automated material handling solutions and end of line testing systems. These complementary solutions will extend Lincoln’s market presence within the attractive automotive sector, better position Lincoln Electric to capitalize on accelerating investments in automotive EV platforms, and offer cross-selling growth opportunities to Lincoln’s industrial customers. The acquisition would also extend Lincoln’s automation footprint in South Korea and India and expand Lincoln’s existing presence in Europe, China and Latin America. The Fori Automation acquisition is expected to increase Lincoln Electric’s annual automation sales by approximately $225 million at comparable EBIT margins to Lincoln Electric’s current automation portfolio, and is expected to be accretive to earnings.