ESAB Corporation to acquire Eddyfi Technologies for $1.45bn.

ESAB Corporation, a global provider of connected fabrication technology, agreed to acquire Eddyfi Technologies, a provider of non-destructive testing solutions, for $1.45bn. "This acquisition is a pivotal step that strengthens ESAB and sets the course for our next phase of growth. We are thrilled to welcome Eddyfi into the ESAB family. With the addition of Eddyfi, ESAB becomes the unrivaled provider of a full workflow solution spanning fabrication, inspection and monitoring. This new complete offering will contribute to ESAB’s position in the industry as a partner of choice for our global customers, where quality, productivity and uptime are non-negotiable. This acquisition further expands ESAB’s total addressable market by approximately $5 billion and accelerates our journey toward a portfolio that is faster growing, higher margin and less cyclical. The combination also strengthens our exposure to attractive, high-growth end markets including Aerospace and Defense, Nuclear, Energy and Civil Infrastructure," Shyam P. Kambeyanda, ESAB Corporation President and Chief Executive Officer.