Esab Corp., a fabrication and gas control technology company, has bought Ohio Medical, an oxygen regulator and central gas system company, for a cash purchase price of $127 million.
Ohio Medical is headquartered in Gurnee, Ill., and provides Esab with brands and distribution in the North American market. Combined with Esab’s Victor and GCE businesses, the addition of Ohio Medical aims to create a medical and industrial gas control portfolio to expand the company’s global offerings.
“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,” says Shyam Kambeyanda, president and CEO of Esab. “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.”
PricewaterhouseCoopers Corporate Finance LLC served as financial adviser and Tucker Ellis LLP served as legal counsel to Esab in this transaction.