- ESAB Corporation ( NYSE: ESAB ) has acquired Ohio Medical, a global leader in oxygen regulators and central gas systems, from a private investor group for a cash purchase price of $127M.
- The company also expects an additional cash tax benefit with a net present value of $15M.
- Ohio Medical is headquartered in Gurnee, Illinois and generated over $45M of sales, gross margins above 40%, and adjusted EBITDA margins greater than 20% during the year ended August 31, 2022.
- The acquisition is expected to be adjusted EPS accretive to the company in the first year.
- The company financed the acquisition using cash on hand and expects its net leverage ratio to be less than 3x at the end of 2022.
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ESAB corporation acquires Ohio Medical for $127M