ESAB Corporation has acquired Ohio Medical in a cash purchase of $127m that will enhance its oxygen regulator and central gas system offering.
Confirming the purchase on Monday (17th Oct), fabrication and gas control technology specialist ESAB said the transaction will help create revenues of more than $400m.
In the 12 months ending 31st Aug (2022), Ohio Medical generated over $45m of sales, gross margins above 40% and adjusted EBITDA margins greater than 20%.
On the purchase, Shyam Kambeyanda, President and CEO of ESAB, said, “We are thrilled to welcome the Ohio Medical team to ESAB Corporation.”
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