ESAB to acquire Quebec company Eddyfi for $1.45 billion USD

Maryland-based ESAB agreed to acquire Quebec City–based non-destructive testing firm Eddyfi for $1.45 billion USD, and has made commitments to keep Eddyfi's workforce and head office in Quebec City.

ESAB, a Maryland-based welding and industrial equipment company, agreed to purchase Quebec City–based non-destructive testing (NDT) firm Eddyfi for $1.45 billion USD. The announcement highlights ESAB's stated commitments to maintain Eddyfi's workforce and head office in Quebec City. Eddyfi provides inspection technologies used across aerospace, energy, mining, power generation and transportation, and the company said it will continue with current leadership and product plans after the transaction. Key details: - ESAB agreed to purchase Eddyfi for $1.45 billion USD. - ESAB has made "firm commitments" to keep Eddyfi's workforce and head office in Quebec City. - Eddyfi, founded in 2009, offers non-destructive testing technology, reports more than 1,000 employees, and serves customers in over 110 countries, with clients including Shell, General Electric, and the London Underground. - Eddyfi is backed by Quebec pension manager La Caisse and private equity firm Novacap; the sale follows Previan's split into Eddyfi and NDT Global. - ESAB said Eddyfi is expected to generate about $270 million USD in revenue and $80 million USD of adjusted EBITDA for 2026, and that the acquisition will be funded with cash, debt, and $318 million of committed equity. - The transaction is expected to close in the second quarter of this year. Summary: The agreement transfers ownership of Eddyfi to ESAB while, according to the companies, preserving Eddyfi's operations and leadership in Quebec City. The firms say the deal will leave product roadmaps and commercial commitments in place and that closing is expected in the second quarter.