M&A Deal Summary

Lincoln Electric Acquires Rimrock

On August 4, 2015, Lincoln Electric acquired machinery company Rimrock from Glencoe Capital and Albion Investors

Acquisition Highlights
  • This is Lincoln Electric’s 18th transaction in the Machinery sector.
  • This is Lincoln Electric’s 14th transaction in the United States.
  • This is Lincoln Electric’s 4th transaction in Ohio.

M&A Deal Summary
Date 2015-08-04
Target Rimrock
Sector Machinery
Buyer(s) Lincoln Electric
Sellers(s) Glencoe Capital
Albion Investors
Deal Type Add-on Acquisition

Target

Rimrock

Columbus, Ohio, United States
Rimrock Corp. is a North American developer of productivity solutions for the aluminum die-casting industry, offering specialized industrial products including reciprocating spraying systems, automated metal ladlers, integrated robotic cells, part extractors, and spraying accessories. Rimrock also designs, manufacturers and installs material handling and part finishing systems.

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Buyer(S) 1

Buyer

Lincoln Electric

Cleveland, Ohio, United States
Category Company
Founded 1895
Sector Machinery
Employees12,000
Revenue 4.2B USD (2023)
DESCRIPTION
Entrance to Lincoln Electric's corporate headquarters in Cleveland, Ohio.
Entrance to Lincoln Electric's corporate headquarters in Cleveland, Ohio.

Lincoln Electric is a designer and manufacturer of arc welding products, robotic arc welding systems, plasma, and oxy-fuel cutting equipment and has a global position in the brazing and soldering alloys market. Lincoln Electric was founded in 1895 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 30 of 47
Sector (Machinery) 18 of 25
Type (Add-on Acquisition) 26 of 39
State (Ohio) 4 of 6
Country (United States) 14 of 25
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-20 RealWeld Systems

Columbus, Ohio, United States

RealWeld Systems, Inc. manufactures welding training systems.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-07 Specialised Welding Products Pty

Cheltenham, Australia

Specialised Welding Products is a provider of specialty welding consumables in Australia and New Zealand.

Buy -

Seller(S) 2

SELLER

Glencoe Capital

Manchester, New Hampshire, United States

Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Glencoe Capital is a private equity firm that invests in leveraged buyouts and recapitalizations of middle-market companies. Glencoe consists of Glencoe Capital Partners Funds which seeks North American businesses valued between $25 million and $125 million, and the Michigan Opportunities Fund which looks to invest in recapitalizations, buyouts, and growth equity transactions in Michigan. Sectors of interest include business and media services, financial services, food and consumer products, and industrials. Glencoe prefers platform companies to have at least $30 million of sales and EBITDA of at least $3 million. Glencoe Capital was formed in 1994 and is a unit of Leoville Holdings, an alternative investment manager. Glencoe Capital is based in Chicago with an additional office in Birmingham, Michigan.

DEAL STATS #
Overall 10 of 16
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 4 of 7
State (Ohio) 1 of 2
Country (United States) 9 of 14
Year (2015) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-13 Flatout

Saline, Michigan, United States

Flatout, Inc. produces and sells flatbread and other related products to retail groceries, mass market and club stores, and other markets. The company sells its products under the Flatout name, which enjoys brand recognition among weight-conscious and health-minded consumers. Its products, which come in a variety of regular and light flavors, provide a healthy alternative to traditional breads and are applicable to a variety of culinary uses.

Sell $92M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-01 Clearbrook Farms

Downey, California, United States

Clearbrook Farms is an online retailer of a variety of all natural jams, jellies, fruit butters, preserves and fillings to both the retail and industrial markets. Clearbrook Farms was founded in 1924 and is based in Downey, California.

Buy -
SELLER

Albion Investors

New York, New York, United States
Category Asset Manager
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Albion Investors LLC is a New York based SEC registered investment advisor. Albion provides institutional clients with private securities investment services via a variety of investment vehicles, including limited partnerships and separate accounts. Albion manages client capital across two broad investment disciplines including private debt and equity investing, and fund of funds investing. As a lead investor, Albion's junior capital enterprise value ranges between in size from $2 to $15 million and EBITDA of $0.5 - $3 million. Areas of interest include food and beverage, business services, value-added distribution, specialty manufacturing, consumer products, wellness, and healthcare products and services. Albion Investors was formed in 1995.

DEAL STATS #
Overall 4 of 7
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 2 of 5
State (Ohio) 1 of 2
Country (United States) 3 of 5
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-28 OmPrompt

Oxfordshire, United Kingdom

OmPrompt is an operator of a cloud-based platform that enables leading brands to automate the customer management process and deliver a consistently better service. OmPrompt was founded in 2002 and is based in Oxfordshire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-14 G.Network Communications

London, United Kingdom

G.Network Communications is a provider of communication services. G.Network Communications was founded in 2016 and is based in London, United Kingdom.

Buy -
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