Esab, a member of the Colfax group of companies, announced that Colfax has entered into a binding agreement to acquire Victor Technologies Holdings, Inc.

Victor is recognized for its leading brands, including Victor, Tweco, Cigweld and Stoody, which are manufactured, sold and serviced around the globe.

The combination of Esab and Victor creates a comprehensive product portfolio that brings a broader array of solutions to the global welding and cutting industry.

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"Together, we'll use our combined geographic reach, product technologies, channel resources, and most importantly, organizational talent, to provide innovative welding and cutting solutions for our customers,” said Clay Kiefaber, President & CEO Esab.

The Colfax Business System (CBS) will drive Esab and Victor’s joint efforts to develop new products, provide added value to existing products, and deliver differentiated customer solutions.