ESAB to Acquire Eddyfi Technologies for $1.45 Billion
February 2, 2026 — Quebec City / North Bethesda, MD
Welding gear manufacturer ESAB Corp (NYSE: ESAB) announced on Monday that it has entered into a definitive agreement to acquire Canadian testing instrument manufacturer Eddyfi Technologies for US$1.45 billion (approximately C$2.0 billion), aiming to broaden its product portfolio and gain exposure to booming markets such as aerospace and defense.
The deal will be funded with a combination of cash, debt, and $318 million of fully committed equity, according to the North Bethesda, Maryland-based company. Eddyfi is expected to generate revenue of about $270 million and adjusted EBITDA of $80 million in 2026.
The combination will strengthen ESAB'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 transaction, valued at US$1.45 billion in cash for 100 percent of the outstanding shares, is subject to customary regulatory approvals and closing conditions and is expected to close in the middle of 2026.
A Strategic Milestone for Eddyfi Technologies
This announcement marks an important milestone following the split of Previan into two separate entities, NDT Global and Eddyfi Technologies in June 2025. NDT Global was refinanced in June and entered a new cycle and growth chapter with essentially the same shareholders as Eddyfi. As Eddyfi underwent the process, several refinancing options were considered, but the value of the ESAB offer, the founders and executives' priorities, the business size and maturity, as well as the perspectives of brand legacy and growth with ESAB made the difference to a complete sale to ESAB.
Joining ESAB is designed to position Eddyfi Technologies for its next chapter of global expansion, technological progress, and long-term sustainability. As part of the transaction, ESAB has made firm commitments to maintain Eddyfi's workforce and head office in Québec City.
A Partnership to Fuel the Next Era of Growth
Over the past decade, Eddyfi Technologies has grown from a Quebec-based innovator into a global provider of advanced inspection and monitoring technologies. ESAB brings a complementary global presence and a strong tradition of engineering excellence, operational discipline and long-term industrial stewardship.
The combination of ESAB and Eddyfi creates a strategic opportunity to offer customers a more complete workflow from fabrication to inspection and monitoring, supported by expanded global service capabilities and a stronger innovation platform. It also positions Eddyfi within a larger organization with the scale and reach to support its long-term development.
"We are confident that ESAB is the right partner to help fuel our continued growth. Their industrial depth, international reach and values-driven approach make them an excellent match for our culture and the next phase of our evolution." — Jeff Anderson, President and CEO of Eddyfi Technologies
Honouring Roots While Embracing the Future
"What our teams have built, from a spark in Quebec City to a global force in industrial technology, is something we can all be proud of. Our story has been shaped by innovation, courage and the belief that world-class technology can be created and scaled from right here at home. 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." — Martin Thériault, Chairman and founder of Eddyfi Technologies
A Strong Strategic Fit Across Markets
Following the closing of the transaction, Eddyfi Technologies will continue to operate with its current leadership teams, product roadmaps and commercial commitments. ESAB has taken a firm commitment to retain Eddyfi's headquarters in Quebec and invest further in Quebec operations, recognizing the region as a foundation for the combined company's Inspect and Monitoring growth strategy.
Eddyfi's product lines serve critical global sectors including:
- Nuclear power generation
- Aerospace & defense
- Energy
- Manufacturing
- Transportation
- Civil infrastructure
Eddyfi offers advanced sensing, automated remote monitoring, robotics and software services across these industries and serves customers in more than 110 countries, employing more than 1,000 people worldwide.
ESAB's presence in fabrication technologies offers a complementary market position that supports an integrated lifecycle approach — from construction and welding to inspection, maintenance and integrity management. ESAB also said it now expects full-year core revenue in the range of $2.85 billion to $2.95 billion.
About the Companies
Eddyfi Technologies is a global leader in advanced non-destructive testing instrumentation, providing inspection technologies to assess structural integrity of critical assets. Headquartered in Québec, Canada, with a global footprint and world-class R&D capabilities, Eddyfi Technologies serves customers in more than 110 countries and empowers them to enhance safety and productivity, protect the environment and save lives.
Founded in 1904, ESAB Corporation (NYSE: ESAB) is a focused premier industrial compounder. The Company's rich history of innovative products, workflow solutions and its EBX business system enables its purpose of "Shaping the world we imagine." ESAB Corporation is based in North Bethesda, Maryland and employs approximately 10,300 associates serving customers in approximately 150 countries.
McCarthy Tétrault LLP acted as legal advisors to Eddyfi Technologies, while Goldman Sachs and EC M&A acted as financial advisors. EY supported the sell-side Quality of Earnings.