| Crain’s Cleveland Business | Lincoln Electric adds to HVAC offerings with acquisition
Euclid-based Lincoln Electric Holdings Inc. (Nasdaq: LECO) recently announced the acquisition of both Overstreet-Hughes Co. in Tennessee as Shoals Tubular Inc. in Alabama, both of which serve the HVAC industry.
The terms have not been disclosed. A press release stated that the companies have combined annual sales of approximately $50 million. The companies make “copper and aluminum headers, distributors and manifolds” in the US and Mexico for the HVAC market, the release said. The companies will be part of the Harris Products Group business.
“Our combined portfolio now provides HVAC OEMs with the broadest portfolio of solutions and application expertise for high-performance and efficient HVAC coil manufacturing,” said Lincoln Electric Chairman, President and CEO Christopher L. Mapes in the release. “The acquisition also positions HPG to better capitalize on attractive HVAC growth opportunities as part of our Higher Standard 2025 strategy.”