Worthington Cylinders Acquires BernzOmatic from Irwin Industrial Tool Company

Worthington Industries' Pressure Cylinders segment purchased the BernzOmatic business from Irwin Industrial Tool Company (a subsidiary of Newell Rubbermaid). The acquisition, financed via a revolving credit facility, provides Worthington with entry into the plumbing wholesale channel and adds hand-held torch products to its portfolio.

“Worthington Industries, Inc. (NYSE:WOR) announced today that its Pressure Cylinders segment has purchased the BernzOmatic business from Irwin Industrial Tool Company, a subsidiary of Newell Rubbermaid. The transaction was financed with the Company’s revolving credit facility and is expected to be immediately accretive.”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.