Shyam P. Kambeyanda, President and Chief Executive Officer of ESAB, stated, “We are thrilled to welcome the Ohio Medical team to ESAB Corporation. Ohio Medical increases our served market in North America for medical oxygen regulators and central gas systems, complementing our GCE and Victor businesses, creating a gas control equipment leader with revenues of more than $400 million. We are excited about the significant global cross-selling opportunities and how Ohio Medical advances our strategy to drive faster growth, higher margins, lower cyclicality, and stronger cash flow.”
Anthony Wieczorek, Chief Executive Officer of Ohio Medical, stated, “For more than 100 years, we have been a market leader in oxygen regulators and central gas systems. Joining ESAB will help us accelerate our expansion globally, while allowing us to harness the power of the ESAB Business System (EBX) to better serve our customers with increased efficiency and innovative customer solutions.”
Ohio Medical is headquartered in Gurnee, Illinois and employs approximately 100 associates, providing ESAB with strong brands and distribution in the large and attractive North American market. Combined with ESAB’s Victor and GCE businesses, the addition of Ohio Medical creates an unmatched global medical and industrial gas control portfolio that enhances the company’s worldwide offerings.
PricewaterhouseCoopers Corporate Finance LLC served as financial adviser and Tucker Ellis LLP served as legal counsel to the Company.
About ESAB Corporation
ESAB Corporation (NYSE: ESAB) is a world leader in fabrication and gas control technology, providing our partners with advanced equipment, consumables, gas control equipment, robotics, and digital solutions which enable the everyday and extraordinary work that shapes our world. To learn more, visit www.ESABcorporation.com.
Cautionary Note Concerning Forward Looking Statements
This press release includes forward-looking statements, including forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning the Company’s plans, goals, objectives, outlook, expectations, and intentions, and other statements that are not historical or current fact. Forward-looking statements are based on the Company’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements.