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Sunday, Sep 25, 2022
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Oceanside Manufacturer Vernon Tool Sold

Cleveland-based Lincoln Electric Holdings Inc. said Nov. 30 that it has acquired Oceanside’s Vernon Tool Co. Ltd., a privately held manufacturer of computer-controlled pipe cutting equipment.

Terms of the deal were not disclosed.

Vernon Tool has annual sales of $9 million. Lincoln Electric had annual revenue of $1.9 billion in 2006.

Lincoln Electric said it expects the acquisition to widen its influence in its global sales network. Lincoln Electric designs, develops and manufactures arc welding products, plasma and oxyfuel cutting equipment and has a network of distributors and sales offices in more than 160 countries.

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The company trades on the Nasdaq under the symbol LECO.

, Andrew Schweizer

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