Welding giant buys 3 North Charleston manufacturers
A big player in the welding industry has snapped up a close-knit trio of North Charleston manufacturers, including two that make high-precision equipment for cutting and shaping metals.
Lincoln Electric Holdings Inc. said it acquired the Kaliburn and Burny businesses from ITT Corp. this week. Also included in the deal was Cleveland Motion Control Inc., which makes equipment used in automated machinery.
Terms were not disclosed.
Kaliburn and Burny have “strong brands” in the cutting industry that will “further strengthen and expand our offerings to our global distributor partners and end-user customers,” said John M. Stropki, chairman and chief executive officer of Lincoln Electric.
White Plains, N.Y.-based ITT said it sold off the North Charleston division because the businesses no longer fit within its strategic plan.
The three manufacturers are based on Carolina Commerce Parkway, off Ladson Road. Their combined annual sales totaled $35 million last year, and they have about 140 workers.
All employees and existing management are being retained, said Lincoln Electric spokesman Roy Morrow.
“These companies are great strategic fits for us,” Morrow said Wednesday. “They offer product lines that are natural complements to our industry-leading cutting systems business.”
Kaliburn, which once operated as InnerLogic Inc., has been in the Charleston region since its inception in 1985. Its name is rooted in the Latin word “chalybs,” meaning steel. The term “burn” represents the high temperature and intensity of a metal-cutting plasma torch.
ITT’s Cleveland Motion Controls unit bought out the local business about four years ago. It moved the operation from James Island to its current 40,000-square-foot building in 2009.
The company’s new owner is a Cleveland-based designer, developer and maker of arc welding and gas-powered cutting equipment. Lincoln Electric has 46 manufacturing locations in 20 countries, as well as distributors and sales offices that cover more than 160 countries.
Contact John McDermott at 937-5572.