Colfax Corporation

Colfax Corporation
Public
Traded as NYSE: CFX
Russell 1000 Component
Industry Machinery
Headquarters Annapolis Junction, Maryland, United States
Number of employees
 18,351
Website www.colfaxcorp.com

Colfax Corporation is an American Corporation manufacturing welding, air and gas handling equipment[1], headquartered in Annapolis Junction, Maryland, indexed on the NYSE. Originally it was founded as a spinoff out of American conglomerate the Danaher Corporation.[2] Colfax Corp. acquired British Charter International PLC[3] which in turn owned Swedish ESAB (8 500 employees worldwide, 2012) in 2011. Both companies have since been wholly owned by Colfax. Further Colfax also acquired Allweiler[4] (2 100 employees worldwide, 2011[5])

History

Started in 1995 by the two brothers Steven and Mitchell Rales with the goal of acquiring world-class enterprises focused on delighting its customers .[6]

Consisting of two groups, Power Transmission and Fluid Handling, during its early years Colfax focused on strong brands that had leading positions in their markets. In February 2005 the Power Transmission group was sold to Genstar Capital. At that time the President and CEO, John Young, promoted Scott Faison to SVP Finance & CFO and consolidated the Fluid Handling Group leadership with the corporate team in Richmond Virginia.

Bolt on acquisitions were then made of Zenith Pumps (from Parker Hannifin), Lubrication Systems Company (Jan 2007) and Fairmount Automation (Nov 2007) to the Fluid Handling platform.

In the 1st quarter of 2008, it net profit was $8.8 million.[7]

In January 2012 it completed the acquisition of Charter International the parent company of ESAB and Howden[8] for $2.4 Billion.[9]

The revenue of the company for 2012 was 3 billion USD.[10]

In July 2015, Matthew Trerotola was appointed CEO. In the 7 months following, the stock price fell by 40%, and Trerotola was awarded a $9m bonus.[11]

In Dec of 2017 Colfax sold its Fluid Handling platform to Circor for cash and stock. This reduced the size of the company by about 1/2 billion USD. It also changed the name of the Gas and Fluid Handling division to the Air and Gas Handling division consisting of Howden. The Fab Tech group remained unchanged consisting of ESAB and Victor.

References

  1. ↑ "Our Businesses - Colfax". www.colfaxcorp.com.
  2. ↑ "Colfax and the Rales brothers".
  3. ↑ Wall Street Journal, September 13, 2011, Colfax Bids $2 Billion for Charter
  4. ↑ "Allweiler in Russia". Retrieved 2013-08-29.
  5. ↑ "kubri.eu, Allweiler profile".
  6. ↑ "History - Colfax". corporate.colfaxcorp.com.
  7. ↑ Heath, Thomas (7 July 2008). "The Quiet Dynamism of the Brothers Rales" – via washingtonpost.com.
  8. ↑ "News". www.esabna.com.
  9. ↑ "ESAB Parent to be Bought for $2.4 Billion". weldingdesign.com.
  10. ↑ "Revenue, EPS, & Dividend - Colfax Corporation (CFX) - NASDAQ.com". NASDAQ.com.
  11. ↑ http://www.bizjournals.com/baltimore/news/2016/01/06/colfax-rolls-out-9m-more-in-stock-to-new-ceo-amid.html?ana=yahoo. Missing or empty |title= (help)


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