US pump maker Colfax Corp to buy Peruvian welding products firm Soldex
29 May 2012
Colfax Corp, a US-based industrial pump and valve maker today said that it will acquire a majority stake in welding products supplier Soldex SA, for $235 million, including debt.
Under the deal, Colfax, which counts Northrop Grumman, Alfa Laval, General Dynamics, GE, Siemens, Rolls-Royce, and the US Navy among its customers, will acquire a 91-per cent stake in Soldex from Inversiones Breca SA, a unit of Peru's Brescia Group.
With plants in Lima, Peru and Bogota, Colombia, Soldex is a leading supplier of welding products to customers along South America's fast-growing Pacific coast.
Soldex SA is one of the leading companies in the welding business in Peru, representing global brands such as Oerlikon, Saf-fro, and Hypertherm Millar, and has a presence in the US, Canada, Chile, Colombia, Bolivia, Ecuador, Guatemala, Costa Rica, Sudan and Switzerland.
The acquisition positions Colfax's ESAB division as the clear leader in South America, with a pre-eminent position in every country market, and further increases its exposure to the energy and natural resources sectors.
Steve Simms, Colfax president and CEO, said, "We are excited to add Soldex to our large and growing South American welding products business. This acquisition reflects our continued commitment to expanding Colfax's already-strong position in emerging markets, and in sectors with good long-term growth potential."
