Lincoln Electric acquires Torchmate
Lincoln Electric announced today that it has acquired substantially all of the assets of Applied Robotics, Inc., a leading manufacturer of CNC cutting tables and accessories in North America. Applied Robotics, known in the welding industry by its brand name, Torchmate, has headquarters and manufacturing facilities based in Reno, Nevada.
Torchmate offers a wide selection of CNC plasma and oxyfuel cutting tables and systems to small and medium- sized fabricators. The company's trailing twelve months of sales are approximately $13 million, and Torchmate currently employs 44 people. Terms were not disclosed.
"Metal cutting is closely aligned with arc welding, and the addition of Torchmate will bolster our ability to provide cutting process solutions for our customers," said John M. Stropki, Chairman and Chief Executive Officer. "Torchmate's CNC plasma cutting tables provide an economic option to cutting solutions required by many metal fabricators. The Torchmate product offering will enhance existing cutting options for Lincoln Electric's customers here in North America and around the world."
"Joining with Lincoln will significantly expand our ability to reach fabricators throughout North America and worldwide," said Bill A. Kunz, Chief Executive Officer of Torchmate. "Our portfolio of products is perfectly aligned to service the cutting needs of these customers, and I am very excited to join the Lincoln Electric team."