ESAB (NYSE:ESAB) announced on Monday a definitive agreement to acquire Eddyfi Technologies for $1.45 billion, marking a significant strategic pivot into the advanced non-destructive testing (NDT) and structural integrity market.
The deal, ESAB’s largest since becoming a standalone company, is designed to transform the welding specialist into a premier industrial technology provider with enhanced workflow solutions for critical infrastructure.
Quebec City-based Eddyfi is a global leader in sophisticated inspection technologies, including robotics, sensors, and software used in the aerospace, defense, nuclear, and energy sectors.
The firm is projected to generate approximately $270 million in revenue and $80 million in adjusted EBITDA in 2026.
ESAB expects to unlock $20 million in annualized run-rate synergies, potentially boosting Eddyfi's 2026 EBITDA contribution to $100 million.
The acquisition will be funded through a mix of cash on hand, debt—including a $1.0 billion bridge loan commitment—and $318 million in committed equity through private placements of common and convertible preferred stock.
As part of the agreement, ESAB has committed to maintaining Eddyfi’s workforce and its headquarters in Quebec, ensuring the continuity of the region’s R&D hub.
The transaction is expected to close in mid-2026, subject to regulatory approvals.