ESAB acquires Eddyfi in $1.45bn deal

April 2026 | DEALFRONT | MERGERS & ACQUISITIONS

Financier Worldwide Magazine

April 2026 Issue

ESAB Corporation has announced that it has entered into a definitive agreement to acquire Eddyfi Technologies for $1.45bn. The transaction represents a significant strategic move for ESAB as it continues to expand its position beyond fabrication technologies into higher margin and less cyclical inspection and monitoring markets. The agreement was confirmed on 2 February 2026, and the deal is expected to close in mid 2026, subject to regulatory approvals and customary conditions.

The acquisition will be financed through a combination of cash on hand, debt and $318m of fully committed equity. ESAB expects Eddyfi to generate approximately $270m of revenue and $80m of adjusted earnings before interest, taxes, depreciation and amortisation in 2026, rising to an estimated $100m when annualised run rate synergies of around $20m are accounted for. ESAB stated that the acquisition expands its total addressable market by approximately $5bn and further accelerates its shift toward a portfolio with higher growth potential, stronger margins and reduced exposure to cyclical fluctuations.

Founded in 1904 and headquartered in North Bethesda, Maryland, ESAB is a global industrial manufacturer with around 10,300 employees serving customers in approximately 150 countries. The company has built a longstanding reputation for innovation in fabrication technology and gas control systems. By incorporating Eddyfi into its portfolio, ESAB aims to strengthen its end to end workflow offering in fabrication, inspection and monitoring.

According to the company, the addition of Eddyfi creates what it describes as a full workflow solution for customers across aerospace and defence, nuclear, energy and civil infrastructure. “This acquisition is a pivotal step that strengthens ESAB and sets the course for our next phase of growth,” said Shyam P. Kambeyanda, president and chief executive of ESAB. “With the addition of Eddyfi, ESAB becomes the unrivalled provider of a full workflow solution spanning fabrication, inspection and monitoring.”

Eddyfi is recognised as a leading specialist in advanced non-destructive testing instrumentation. Its portfolio covers electromagnetic and ultrasonic testing, automated inspection, advanced sensing, remote monitoring and software designed to evaluate the condition and structural integrity of critical assets. The company operates in more than 110 countries and employs more than 1000 people. Its offerings serve a range of sectors including nuclear power generation, aerospace, defence, energy, civil infrastructure, oil and gas and transportation.

The acquisition follows significant corporate developments for Eddyfi. In 2025, its parent company Previan separated into two entities, NDT Global and Eddyfi Technologies. Eddyfi subsequently evaluated several refinancing options before agreeing to a full sale to ESAB, citing alignment with its strategic priorities and the opportunity to support long-term growth. The deal positions Eddyfi within a larger industrial organisation with extensive engineering expertise, a global commercial footprint and the resources required to sustain product development and international expansion.

“Joining forces with ESAB marks an exciting new chapter for our team,” said Martin Thériault, chairman and founder of Eddyfi Technologies. “ESAB brings the scale, resources and long term commitment needed to support our people, strengthen our impact with customers and honour the legacy we have built. This is far from being the end of our story. It is the beginning of a new chapter defined by growth, pride and renewed momentum.”

ESAB has made firm commitments to maintain Eddyfi’s workforce and retain its head office in Quebec City. The company also expects net leverage to remain within its targeted range after the acquisition closes. Analysts have noted that the move marks a strategic pivot for ESAB as it seeks to expand into high value markets driven by regulatory requirements, asset safety, technological adoption and increasing global infrastructure investment.

The transaction remains on track to complete in mid 2026. ESAB has indicated that further details on integration planning and financial priorities will be provided during forthcoming earnings updates.

Fraser Tennant