Colfax Completes Acquisition of Victor Technologies Holdings, Inc.
Fulton, MD, April 14, 2014 -- Colfax Corporation (NYSE: CFX), a leading global manufacturer of gas- and fluid-handling and fabrication technology products and services, today announced that it has completed the previously announced acquisition of Victor Technologies Holdings, Inc. ("Victor") from Irving Place
Capital for total consideration of $947.3 million. 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.
Colfax Corporation funded the acquisition primarily through cash generated by the equity offering in February of this year and the remaining portion through borrowings under its existing credit facility. The company will provide further updated financial information related to the transaction during its first quarter of 2014 earnings conference call scheduled for 8:00AM EDT on April 24, 2014.
ABOUT COLFAX CORPORATION - 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 that 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." Additional information about Colfax is available at www.colfaxcorp.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 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 hereof. 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.
Investor Contact:
Farand Pawlak, Director of Investor Relations
Colfax Corporation
(301) 323-9054
farand.pawlak@colfaxcorp.com
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Source: Colfax Corp via Globenewswire
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