HTP America has been purchased by Stel s.r.l, the Italian company that manufactures its welding equipment.
The contract was signed in Elk Grove Village on May 30, 2022.
The purchase will strengthen the cooperation between Stel and HTP, which have been partners since 1998, when HTP began purchasing plasma cutters from Stel.
Stel has been interested in strengthening its position in the American welding market, so the purchase of HTP is a good fit.
“Stel has a strong growth strategy, and the acquisition of HTP was a natural part of that strategy,” said Stel CEO Andrea Barocco. “The two businesses complement each other, and HTP’s dynamic and innovative sales platform strengthens Stel’s position as a premium manufacturer of welding equipment, especially in the American market.”
“Having a strong European manufacturer behind HTP will definitely benefit both companies in the future,” said HTP President Jeff Noland.
“Stel and HTP will operate as separate businesses after the acquisition and continue to serve their own customers, but being under the same ownership will bring big benefits in sourcing and product development. An owner with a long history of building high-quality welding equipment will offer HTP a pipeline of new machines to help HTP continue its growth,” Noland added.