Posted July 14, 2011
Worthington acquires BernzOmatic
Worthington Industries Inc. announced that its Pressure Cylinders segment has purchased the BernzOmatic business from Irwin Industrial Tool Company, a subsidiary of Newell Rubbermaid.
BernzOmatic manufactures and markets hand-held torches, solder, accessories and related products. The acquisition of BernzOmatic assets, increases Worthington's product mix, adds new products, such as solder and accessories and provides an entrée into the plumbing wholesale channel, currently sold under the Lenox brand, as well as international markets. The acquisition also directly supports Worthington Cylinders' established hand-held torch cylinder business. BernzOmatic operates two manufacturing facilities, in Medina, N.Y. and Winston-Salem, N.C., and had revenues of approximately $100 million in the 2010 calendar year.
"This acquisition accelerates our growth in the hand torch business with an established retail brand and gives us access to additional international distribution channels," said Worthington Industries chairman and CEO John McConnell.
"We can now offer customers the benefit and opportunity to purchase Worthington's hand torch cylinder and the BernzOmatic hand torch and accessories from the same manufacturer," said Harry Goussetis, president of Worthington Cylinders. "In addition to its strong brand, BernzOmatic has a history of product innovation. We anticipate enhancing that legacy with our manufacturing capabilities and expertise to grow existing and new product categories."
Worthington Industries is a diversified metals manufacturing company with 2011 fiscal year sales of approximately $2.4 billion. Including its joint ventures, Worthington employs approximately 8,000 people and operates 74 facilities in 11 countries.
