Lincoln Electric Acquires Alloy Steel Australia for Enhanced Maintenance and Repair Portfolio

Lincoln Electric Holdings acquired the remaining 65% interest in Alloy Steel Australia for full ownership. The acquisition enhances Lincoln Electric's portfolio by integrating Alloy Steel's innovative wear plate technologies and services. Alloy Steel, with an annual revenue of approximately $50 million, will be reported in Lincoln Electric's International Welding Segment. The acquisition is expected to be accretive to Lincoln Electric's earnings, adding $0.13 to $0.15 per diluted common share annually.

Lincoln Electric Holdings, Inc. (Nasdaq: LECO) has completed its acquisition of the remaining 65% interest in Alloy Steel Australia (Int) Pty Ltd. and its related businesses, gaining full ownership of the company. The acquisition strengthens Lincoln Electric's portfolio by integrating Alloy Steel's innovative wear plate technologies and engineering services.

Alloy Steel, headquartered in Perth, Australia, specializes in providing proprietary wear plate solutions, engineering services, and digital monitoring to the mining sector, primarily in the Asia Pacific region. The company's offerings complement Lincoln Electric's existing portfolio of maintenance and repair solutions for mining, steel, agricultural, and industrial applications.

"We are pleased to welcome the Alloy Steel team to Lincoln Electric to expand our presence in the attractive maintenance and repair sector," said Steven B. Hedlund, Lincoln Electric's Chair, President, and Chief Executive Officer. "Customers are increasingly investing in maintenance to extend the life and maximize the productivity, safety, and energy efficiency of their assets. We are looking forward to expanding their innovative wear plate solution globally and scaling its reach beyond the Asia Pacific mining sector."

The acquisition, expected to be accretive to Lincoln Electric's earnings, excluding transaction costs, is anticipated to add approximately $0.13 to $0.15 per diluted common share annually. Alloy Steel's annual revenue is approximately USD$50 million, and its results will be reported in Lincoln Electric's International Welding Segment.

This acquisition aligns with Lincoln Electric's strategy to enhance its global presence and expand its offerings in the maintenance and repair sector. The integration of Alloy Steel's capabilities is expected to bring significant value to Lincoln Electric's customers, helping them extend asset life and minimize operational downtime.

Forward-Looking Statements
The Company's expectations and beliefs concerning the future contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management's current expectations and involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "forecast," "guidance" or words of similar meaning. Actual results may differ materially from such statements due to a variety of factors that could adversely affect the Company's operating results. These risks and uncertainties include our ability to successfully integrate Alloy Steel and our ability to achieve the expected growth from the Alloy Steel acquisition. For additional discussion, see "Item 1A. Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

References:
[1] https://www.businesswire.com/news/home/20250804520589/en/Lincoln-Electric-Acquires-Remaining-Interest-in-Alloy-Steel
[2] https://www.stocktitan.net/news/LECO/lincoln-electric-acquires-remaining-interest-in-alloy-elsehdct6mc9.html
[3] https://www.morningstar.com/news/business-wire/20250804520589/lincoln-electric-acquires-remaining-interest-in-alloy-steel