ESAB Corporation (“ESAB” or the “Company”) (NYSE: ESAB), a focused premier industrial compounder, announced today that it has entered into an agreement to acquire Linde Industries Private Limited (LIPL). LIPL is a market leader in welding consumables and equipment in Bangladesh.
“LIPL is our third acquisition this year as we accelerate our compounding journey,” said Shyam P. Kambeyanda, President and CEO, ESAB Corporation. “Bangladesh is a fast growing and attractive market and the LIPL acquisition further strengthens our ability to serve our end markets and customers in the region. Our team is excited about the significant growth opportunities in South Asia to sell our award-winning equipment, automation and consumables product lines.”
LIPL generated approximately $20 million in sales in 2023 and is margin accretive. The acquisition is expected to close later this year subject to shareholder approvals and closing conditions.
About ESAB Corporation
Founded in 1904, ESAB Corporation is a focused premier industrial compounder. The Company’s rich history of innovative products, workflow solutions and its business system ESAB Business Excellence (“EBX”), enables the Company’s purpose of Shaping the world we imagine.TM ESAB Corporation is based in North Bethesda, Maryland and employs approximately 9,000 associates and serves customers in approximately 150 countries. To learn more, visit www.ESABcorporation.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240530238987/en/
“Bangladesh is a fast growing and attractive market and the LIPL acquisition further strengthens our ability to serve our end markets and customers in the region," said Shyam P. Kambeyanda, President and CEO, ESAB Corporation.
Contacts
Investor Relations Contact:
Mark Barbalato
Vice President, Investor Relations
E-mail: investorrelations@esab.com
Phone: 1-301-323-9098
Media Contact:
Tilea Coleman
Vice President, Corporate Communication
E-mail: mediarelations@esab.com
Phone: 1-301-323-9092
