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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 1, 2024
LINCOLN ELECTRIC HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
| Ohio | 0-1402 | 34-1860551 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
22801 St Clair Avenue
Cleveland, Ohio 44117
(Address of principal executive offices, with zip code)
(216) 481-8100
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbol(s) |
Name of exchange on which registered |
||
| Common Shares, without par value | LECO | The NASDAQ Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01. | Other Events. |
On April 1, 2024, Lincoln Electric Holdings, Inc. (the “Company”) issued a press release announcing that it has acquired Superior Controls, LLC d/b/a RedViking (“RedViking”).
RedViking specializes in the development and integration of state-of-the-art autonomous guided vehicles (AGVs) and mobile robots, custom assembly and dynamic test systems, and proprietary manufacturing execution system (MES) software, for customers in the aerospace and defense, transportation, and general industry sectors, and has an annual revenue of approximately $70 million.
A copy of the press release issued by the Company on April 1, 2024 is attached hereto as Exhibit 99.1. The press release is also available on the Company’s website at www.lincolnelectric.com.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| 99.1 | Press Release dated April 1, 2024, announcing the Company’s acquisition of RedViking. | |
| 104 | The cover page of Lincoln Electric Holdings, Inc.’s Form 8-K is formatted in Inline XBRL. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LINCOLN ELECTRIC HOLDINGS, INC. | ||||||
| Date: April 1, 2024 | By: | /s/ Jennifer I. Ansberry |
||||
| Jennifer I. Ansberry, Executive Vice President, General Counsel & Secretary |
||||||
Exhibit 99.1
L I N C O L N E L E C T R I C H O L D I N G S , I N C .
22801 Saint Clair Avenue • Cleveland, Ohio 44117 • U.S.A
N E W S • R E L E A S E
LINCOLN ELECTRIC ACQUIRES REDVIKING®
Complements Lincoln Electric’s Automated Material Handling and Testing Solutions and Expands
Capabilities with Integrated Production Data and Analytic Software Solutions
CLEVELAND, Monday, April 1, 2024 — Lincoln Electric Holdings, Inc. (Nasdaq: LECO) announced today that it has acquired RedViking, a privately held automation system integrator based in Plymouth, Michigan, U.S. RedViking specializes in the development and integration of state-of-the-art autonomous guided vehicles (AGVs) and mobile robots, custom assembly and dynamic test systems, and proprietary manufacturing execution system (MES) software. The company serves customers in the aerospace and defense, transportation, and general industry sectors.
“We are excited to welcome the RedViking team to Lincoln Electric. The acquisition expands our portfolio of automation solutions and extends our ability to serve customers in the growing aerospace and defense industries,” stated Steven B. Hedlund, Lincoln Electric’s President and Chief Executive Officer.
RedViking’s annual revenue is approximately $70 million, and their results will be reported in the Americas Welding Segment. Terms of the transaction were not disclosed.
About Lincoln Electric
Lincoln Electric is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment, and has a leading global position in brazing and soldering alloys. Lincoln is recognized as the Welding Expert™ for its leading materials science, software development, automation engineering, and application expertise, which advance customers’ fabrication capabilities to help them build a better world. Headquartered in Cleveland, Ohio, Lincoln operates 71 manufacturing and automation system integration locations across 21 countries and maintains a worldwide network of distributors and sales offices serving customers in over 160 countries. For more information about Lincoln Electric and its products and services, visit the Company’s website at https://www.lincolnelectric.com.
Contact
Amanda Butler
Vice President, Investor Relations & Communications
Tel: 216.383.2534
Email: Amanda_Butler@lincolnelectric.com
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