Eddyfi Technologies (“Eddyfi”), a global leader in advanced non-destructive testing and integrity management technologies and solutions, has been sold to ESAB Corporation (“ESAB”) (NYSE: ESAB) for $1.45 billion.
Based in Quebec City, Canada, Eddyfi offers a diversified portfolio of advanced inspection technologies designed to assess structural integrity of critical assets, including test & measurement instrumentation, advanced sensing, automated remote monitoring, robotics, and software. The Company serves OEMs, asset owners, and service providers in more than 110 countries and across attractive, high-growth end markets including Nuclear, Aerospace and Defense, Energy Infrastructure, and Civil & Rail Infrastructure.
Eddyfi is currently owned by Novacap, La Caisse (formerly CDPQ), and founder Martin Thériault.
ESAB is a world leader in welding and cutting equipment and consumables that employs approximately 10,300 associates and serves customers in approximately 150 countries. With the addition of Eddyfi, ESAB becomes the unrivaled provider of a full workflow solution spanning fabrication, inspection and monitoring. This new complete offering will contribute to ESAB’s position in the industry as a partner of choice for their global customers, where quality, productivity and uptime are non-negotiable. Additionally, this acquisition further expands ESAB’s total addressable market by approximately $5 billion and accelerates their journey toward a portfolio that is faster growing, higher margin, and less cyclical. The combination also strengthens ESAB’s exposure to attractive, high-growth end markets.
EC M&A served as financial advisor to Eddyfi on this transaction.