Michigan City equipment manufacturer acquired
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A manufacturer of vehicle-mounted air compressors, generators, welders and other equipment headquartered in Michigan City is under new ownership.
Vanair Manufacturing LLC has been acquired by Cleveland-based Lincoln Electric Holdings in a deal valued at $116 million.
The mobile power solutions made by Vanair also include hydraulics, chargers/boosters, and electrified power equipment. Lincoln Electric said in a news release that Vanair’s portfolio complements its maintenance and repair offerings.
“Vanair is renowned for their leading high-quality manufacturing, innovation, and engineering expertise in the fast-growing maintenance and repair service truck market,” Lincoln Electric CEO Seven Hedlund said in the release. “By joining together, Lincoln Electric will capitalize on this channel opportunity to accelerate growth and broaden our technology platform for long-term value creation.”
Vanair currently employs 235 people, and a Lincoln Electric spokesperson told Inside INdiana Business that no jobs will be impacted by the acquisition.
Lincoln Electric has about 12,000 employees at nearly two dozen facilities around the world. The company said Vanair will become part of its Americas Welding Segment.