ESAB Completes Colfax Acquisition of Victor Technologies
The acquisition complements the geographic footprint of ESAB, as well as expands ESAB's product portfolio into new segments and applications. It brings together two leading organizations with world-class products, technologies and R&D.
ESAB Welding & Cutting Products (Florence, SC), a member of the Colfax group of companies, announced that Colfax Corporation has completed the previously announced acquisition of Victor Technologies Holdings, Inc. (“Victor”). Victor is a pre-eminent global manufacturer of cutting, gas control and specialty welding solutions with many strong brands that are well-recognized around the globe.
The acquisition complements the geographic footprint of ESAB, as well as expands ESAB’s product portfolio into new segments and applications. It brings together two leading organizations with world-class products, technologies and R&D.
Ken Konopa, the senior vice president of marketing and engineering for ESAB, commented that, “The products, technology and expertise Victor brings to our portfolio, when combined with ESAB’s solutions, strengthens our value to customers globally. It is an exciting combination and an excellent strategic fit. We anticipate a seamless integration experience for our customers, channel partners and associates.”
Colfax Corporation is a diversified global manufacturing and engineering company that provides gas– and fluid-handling and fabrication technology products and services to commercial and governmental customers around the world under the Howden, Colfax Fluid Handling and ESAB brands. Colfax believes its brands are among the most highly recognized in each of the markets that it serves. Colfax is traded on the NYSE under the ticker “CFX.” www.colfaxcorp.com
ESAB is one of the world’s largest manufacturers of welding consumables, welding and cutting equipment, and associated automation. Founded in 1904, ESAB offers products for virtually every welding and cutting process and application, and is widely recognized as the technological leader in the industry. With more than 8,700 associates and manufacturing facilities across four continents, ESAB delivers products and support services quickly and efficiently to customers around the globe. www.esabna.com
Cautionary note concerning forward looking statements:
This press release may contain 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 Colfax’s plans, objectives, expectations and intentions, including as to the completion of the Victor acquisition and its expected results, and other statements that are not historical or current fact.
Forward-looking statements are based on Colfax’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. Factors that could cause Colfax’s results to differ materially from current expectations include, but are not limited to factors detailed in Colfax’s reports filed with the U.S. Securities and Exchange Commission including its 2013 Annual Report on Form 10-K under the caption “Risk Factors.” In addition, these statements are based on a number of assumptions that are subject to change. This press release speaks only as of this date. Colfax disclaims any duty to update the information herein.
The term “Colfax” in reference to the activities described in this press release may mean one or more of Colfax’s global operating subsidiaries and/or their internal business divisions and does not necessarily indicate activities engaged in by Colfax Corporation.