Lincoln Electric Holdings, Inc. announced that it has entered exclusive negotiations to acquire Air Liquide’s subsidiary, Air Liquide Welding.

The proposed acquisition is still subject to an agreement between the parties.

J.P. Morgan Securities LLC is acting as the financial advisor and Jones Day is acting as legal advisor to Lincoln Electric.

Lincoln Electric designs, develops and manufactures arc welding products, robotic arc-welding systems, plasma and oxyfuel cutting equipment, and has a global position in the brazing and soldering alloys market.

Headquartered in Cleveland, Ohio, Lincoln has 47 manufacturing locations, including operations and joint ventures in 19 countries, and a worldwide network of distributors and sales offices covering more than 160 countries.

Air Liquide Welding is a manufacturer of welding and cutting technologies. Air Liquide Welding has approximately 2000 employees across the world. It offers, through several brands, a large range of related equipment, consumables, and services on the market.

For more information on the acquisition, visit here.