ESAB to buy Canadian testing equipment maker Eddyfi for US$1.45 billion

Welding gear maker ESAB Corp said on Monday it would acquire Canadian testing instrument manufacturer Eddyfi Technologies for US$1.45 billion, aiming to broaden its product portfolio and gain exposure to booming markets such as aerospace and defence.

The combination will also strengthen the company’s exposure to “high-growth end markets” including nuclear, energy and civil infrastructure and help expand its global presence, ESAB CEO Shyam Kambeyanda said in a statement.

The deal will be funded with a combination of cash, debt and $318 million of fully committed equity, North Bethesda, Maryland-based ESAB said.

Eddyfi offers advanced sensing, automated remote monitoring, robotics and software services across aerospace, defense and transportation industries.

ESAB will maintain Eddyfi’s workforce and headquarters in Canada’s Quebec City.

The company said Eddyfi is expected to generate revenue of about $270 million and adjusted EBITDA of $80 million in 2026.

The deal is expected to close in the middle of 2026.

ESAB also said it now expects full-year core revenue in the range of $2.85 billion to $2.95 billion.

(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Sahal Muhammed and Maju Samuel)