Fulton, Maryland-based Colfax Corporation (NYSE:CFX) has made another large acquisition; less than three years after purchasing Charter International PLC in September 2011 for $2.4 billion.
The global industrial engineering and manufacturing company revenues have sextupled since making that purchase of Charter International, jumping the billion dollar mark from the time in 2011 when it pulled in $700 million in annual revenues to over $4.2 billion in 2013.
Now Colfax has purchased St.Louis, Missouri-based Victor Technologies from Irving Place Capital for $947.3 million. The century old company will add to Colfax’s ESAB business through its specialty in welding, cutting and gas control equipment.
With the close of the buyout, watch for the Howard County-based firm to grow larger and quickly, as it did after the Charter International acquisition.
Colfax recently reported its full-year earnings and net income amounted to $178.63 million which was the largest profit posted in the company’s history as a publicly traded company.
Colfax closed $69.58 in today’s trading session, a gain of $0.23 cents. The company’s market value is approximately $8.51 billion.