ESAB Acquires Eddyfi Technologies, Shares Drop 2.45%

By Chris Stiles • Tuesday, June 02 09:46 • Permanent Link

ESAB Corporation said it completed its acquisition of Eddyfi Technologies on June 2, adding a business that the company described as a global leader in advanced inspection and monitoring technologies.

The deal expands ESAB beyond fabrication into inspection and monitoring, and the company said Eddyfi’s instrumentation and monitoring capabilities strengthen its end-to-end workflow offering. ESAB said the acquisition supports its push toward a business that is faster growing, higher margin and less cyclical.

The company said Eddyfi will contribute one month of financial results to ESAB’s second-quarter numbers. ESAB also said its May 7 outlook did not include Eddyfi, and that it will update full-year guidance on its second-quarter earnings call to reflect the acquisition.

ESAB said it employs more than 9,000 associates and serves customers in about 150 countries. Eddyfi employs more than 1,000 people and serves customers in more than 110 countries. Today the company's shares have moved -2.45% to a price of $90.165. Check out the company's full 8-K submission here.

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