ESAB Corporation to Acquire EWM GmbH, Expanding Global Equipment Capabilities and Strengthening Strategic Position
EWM is expected to generate approximately €120 million of revenue in 2025 and is expected to be aEPS accretive in year one. The acquisition will be funded through cash on hand, and is expected to close in the second half of 2025, subject to customary closing conditions and regulatory approvals.
Shyam P. Kambeyanda, President and Chief Executive Officer of ESAB Corporation, said, 'EWM is an exceptional company, bringing deep expertise in advanced welding equipment technology, a strong brand and a highly innovative team. Within our Fabtech businesses, EWM fully addresses our product gaps in heavy industrial equipment, strengthening our technological capabilities and uniquely positioning us to serve end customers with proprietary, end-to-end workflow solutions. Additionally, our customer bases and channel networks are highly complementary, enabling us to significantly extend our market reach.'
Kambeyanda continued, 'In line with our commitment to long-term shareholder value, this transaction fully aligns with ESAB's strategic and financial objectives, including an expected ROIC exceeding 10% before year five. We expect EWM to deliver high-single-digit sales growth, consistent with ESAB's long-term growth outlook for equipment, gross margins greater than 45% and accretive incremental aEBITDA margins. This growth and margin expansion will be driven by the deployment of the ESAB Business System (EBX), as we leverage our commercial and operational excellence capabilities to further build on the strong execution of EWM's leadership team.'
'This acquisition comes at an ideal time to capitalize on improving market conditions in Europe and aligns with our strategy to accelerate global equipment sales growth, particularly in North America. I would like to thank the EWM leadership team for their collaboration and professionalism throughout this process. We look forward to welcoming them to the ESAB family and shaping our future together.'
Following the transaction, ESAB expects a net leverage ratio of approximately 2.0x, preserving flexibility for future investments and acquisitions as part of its compounder strategy.
About ESAB Corporation
Founded in 1904, ESAB Corporation is a focused industrial compounder. The Company's rich history of innovative products, workflow solutions and its business system ESAB Business Excellence ('EBX'), enables the Company's purpose of Shaping the world we imagine TM. ESAB Corporation is based in North Bethesda, Maryland and employs approximately 9,300 associates and serves customers in approximately 150 countries. To learn more, visit www.ESABcorporation.com.
About EWM GmbH
Founded in 1957, EWM is Germany's leading provider of premium arc welding technology solutions. The Westerwald-based company offers complete systems including high-quality welding machines, components, torches, consumables and accessories for manual and automated applications. EWM has a global presence with more than 400 sales and service partners and a high degree of vertical integration through 6 production locations worldwide. The company has a track-record of innovation and has around 800 employees at 12 German and 11 international locations.
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.
Please refer to the Company's previous earnings releases and investor materials for the definitions of the non-GAAP and other financial measures referenced in this press release.
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DETROIT, Aug. 15, 2025 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) (the "Company" or "Rocket Companies"), the Detroit-based fintech platform including mortgage, real estate, title and personal finance businesses, announced the early results as of 5:00 p.m., New York City time, on August 15, 2025 (the "Early Tender Date") of the previously announced offers to exchange and consent solicitations (collectively, the "Exchange Offers and Consent Solicitations") for the $750.0 million aggregate principal amount of outstanding 6.500% Senior Notes due 2029 (the "2029 Notes") and $1.0 billion aggregate principal amount of outstanding 7.125% Senior Notes due 2032 (the "2032 Notes" and, together with the 2029 Notes, the "Existing Notes") of Nationstar Mortgage Holdings Inc. ("Nationstar"), a direct subsidiary of Mr. Cooper Group Inc. ("Mr. Cooper"), for up to $1.75 billion aggregate principal amount of new senior notes issued by the Company (the "New Rocket Notes"). 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Title of Series of Existing Notes CUSIP Number Aggregate Principal Amount Outstanding AggregatePrincipal Amount of Early Tender Notes Percent of OutstandingPrincipal Amount Tendered Exchange Consideration of New Rocket Notes(Principal Amount)(1)(2) Consent Payment in Cash 6.500% Notes due 2029 144A CUSIP: 63861CAG4 Reg S CUSIP: U6377NAF5 $750,000,000 $738,342,000 98.45 % $1,000 $2.50 7.125% Notes due 2032 144A CUSIP: 63861CAF6 Reg S CUSIP: U6377NAE8 $1,000,000,000 $954,213,000 95.42 % $1,000 $2.50 ______________________________________ (1) For each $1,000 principal amount of Early Tender Notes accepted for exchange. (2) The New Rocket Notes (as defined herein) will accrue interest from (and including) the most recent date on which interest has been paid on the corresponding series of Existing Notes accepted in the Exchange Offers (as defined herein). 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The Company anticipates extending the Expiration Date until such time that the Mr. Cooper Acquisition may be consummated substantially concurrently with the Settlement Date. No tenders submitted after the Expiration Date will be valid. As the Majority Noteholder Consents were received as of the Early Tender Date, for each $1,000 principal amount of Existing Notes validly tendered after the Early Tender Date but prior to the Expiration Date, Eligible Holders will be eligible to receive $1,000 principal amount of New Rocket Notes (plus cash in respect of any fractional portion of New Rocket Notes) (the "Exchange Consideration"). To be eligible to receive the Exchange Consideration, Eligible Holders must (i) have validly tendered (and not validly withdrawn) their Existing Notes at or prior to the Early Tender Date and (ii) beneficially own such Existing Notes at the Expiration Date. An Eligible Holder that validly tendered Existing Notes and delivered (and did not validly revoke) a consent prior to the Early Tender Date, but withdraws such Existing Notes after the Early Tender Date but prior to the Expiration Date, will receive the consent payment of $2.50 in cash per $1,000 principal amount of such Existing Notes, even if such Eligible Holder is no longer the beneficial owner of such Existing Notes at the Expiration Date. 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Each series of New Rocket Notes will accrue interest from (and including) the most recent date on which interest has been paid on the corresponding series of Existing Notes accepted in the Exchange Offers and Consent Solicitations. The terms and conditions of the Exchange Offers and Consent Solicitations are described in an Offering Memorandum and Consent Solicitation Statement, dated August 4, 2025 (the "Offering Memorandum and Consent Solicitation Statement"). 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King & Co., Inc. has been retained to serve as both the depositary and the information agent (the "Depositary and Information Agent") for the Exchange Offers and Consent Solicitations. Requests for copies of the Offering Memorandum and Consent Solicitation Statement and other related materials should be directed to D.F. King & Co., Inc. at RKT@ (email), (800) 549-6864 (U.S. Toll-Free) or (212) 390-0450 (Banks and Brokers). None of Rocket Companies, its board of directors, Mr. Cooper, Nationstar, the Guarantors, the Dealer Managers (as defined int the Offering Memorandum and Consent Solicitation Statement), the Depositary and Information Agent, the Trustee under the Indentures, or any of their affiliates, makes any recommendation as to whether holders of the Existing Notes should tender any Existing Notes in response to the Exchange Offers and Consent Solicitations. 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Future financial and operating results; benefits and synergies of the transaction; future opportunities for the combined company; the conversion of equity interests contemplated by the Merger Agreement; the issuance of common stock of Rocket Companies contemplated by the Merger Agreement; the expected timing of the closing of the proposed transaction; the ability of the parties to complete the proposed transaction considering the various closing conditions and any other statements about future expectations that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements in this communication, other than statements of historical fact, are forward-looking statements that may be identified by the use of words "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. Such forward-looking statements are based upon current beliefs, expectations and discussions related to the proposed transaction and are subject to significant risks and uncertainties that could cause actual results to differ materially from the results expressed in such statements. 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These risks, as well as other risks related to the proposed transaction, are more fully described in a registration statement on Form S-4/A (the "Registration Statement") filed by Rocket Companies with the Securities and Exchange Commission (the "SEC") on July 25, 2025 in connection with the proposed transaction. While the list of factors presented here and the list of factors presented in the Registration Statement are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Additional factors that may affect future results are contained in each company's filings with the SEC, including each company's most recent Annual Report on Form 10-K and Form 10-K/A, as it may be updated from time to time by quarterly reports on Form 10-Q and current reports on Form 8-K, all of which are available at the SEC's website The information set forth herein speaks only as of the date hereof, and any intention or obligation to update any forward-looking statements as a result of developments occurring after the date hereof is hereby disclaimed. View original content to download multimedia: SOURCE Rocket Companies, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
