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                                                                    EXHIBIT 23.1
 
               CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
 
     We consent to the reference to our firm under the caption "Experts" and to
the use of our reports dated February 5, 1998 regarding the consolidated
financial statements and schedules of Thermadyne Holdings Corporation in the
Form S-1 Registration Statement and related Prospectus of Thermadyne Mfg. LLC
and Thermadyne Capital Corp., to be filed with the Securities and Exchange
Commission on or about June 22, 1998.
 
                                            /s/  ERNST & YOUNG LLP
 
Orange County, California
June 22, 1998