QUEBEC CITY, Feb. 2, 2026 /CNW/ - Eddyfi Technologies, a global leader in advanced non-destructive testing and integrity management technologies and solutions, is pleased to announce that it has entered into a definitive agreement to join ESAB, a focused premier industrial compounder. The transaction, valued at US$1.45 billion or C$2.0 billion in cash for 100 percent of the outstanding shares of the company, is subject to customary regulatory approvals and closing conditions and is expected to close later in 2026.

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 and to support its long-term development.

"We are confident that ESAB is the right partner to help fuel our continued growth," said Jeff Anderson, President and CEO of Eddyfi Technologies. "Their industrial depth, international reach and values driven approach make them an excellent match for our culture and the next phase of our evolution."

Honouring Our Roots While Embracing the Future

Martin Thériault, Chairman and founder of Eddyfi Technologies, reflected on the significance of this moment. "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."

Thériault continues "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. This is far from being the end of our story. It is the beginning of a new chapter defined by growth, pride, renewed momentum, and continued expansion from here in Quebec City."

A Strong Strategic Fit Across Markets and Technologies

Following the closing of the transaction, expected in the second quarter of the year, 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, and civil infrastructure. 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.

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.

About Eddyfi Technologies

Eddyfi Technologies is a global leader in advanced non-destructive testing instrumentation, providing inspection technologies to assess structural integrity of critical assets. Eddyfi offers a broad and integrated range of capabilities, including test & measurement instrumentation, advanced sensing, automated remote monitoring, robotics, and software across key industries such as nuclear power generation, aerospace, defense, civil infrastructure, oil & gas, transportation and more. Headquartered in Québec (Canada), with a global footprint, world class R&D capabilities, and deep domain expertise, Eddyfi Technologies serves customers in more than 110 countries and empowers them to enhance safety and productivity, protect the environment and save lives. The company employs more than 1000 people. Learn more at www.eddyfi.com and www.eddyfitechnologies.com

About ESAB Corporation

Founded in 1904, ESAB Corporation (NYSE:ESAB) is a focused premier industrial compounder. The Company's rich history of innovative products, workflow solutions and EBXai, enables its purpose of Shaping the world we imagine™. ESAB Corporation is based in North Bethesda, Maryland and employs approximately 10,300 associates and serves customers in approximately 150 countries. To learn more, visit www.ESABcorporation.com.

SOURCE Eddyfi Technologies

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Eddyfi Technologies Announces Signing of Definitive Agreement to join ESAB