ESAB Corporation has announced the acquisition of Linde Industries Private Limited (LIPL), a market leader in welding consumables and equipment in Bangladesh. This is the third acquisition made by ESAB this year as they continue to accelerate their compounding journey.
Shyam P. Kambeyanda, President and CEO of ESAB Corporation, expressed his excitement about the growth opportunities in South Asia, particularly in Bangladesh. LIPL generated approximately $20 million in sales in 2023 and is expected to be margin accretive for ESAB. The acquisition is subject to shareholder approvals and closing conditions, with an expected closing later this year.
Founded in 1904, ESAB Corporation is known for its innovative products, workflow solutions, and its business system ESAB Business Excellence (“EBX”). With a focus on shaping the world we imagine, ESAB serves customers in approximately 150 countries and employs around 9,000 associates. To learn more about ESAB Corporation, visit their website at www.ESABcorporation.com.
For investor relations inquiries, contact Mark Barbalato, Vice President of Investor Relations, at investorrelations@esab.com or 1-301-323-9098. For media inquiries, contact Tilea Coleman, Vice President of Corporate Communication, at mediarelations@esab.com or 1-301-323-9092.
