Colfax Buying Soldex In $235M Deal
FULTON, Md. (AP) — Pump and valve maker Colfax Corp. is buying welding products supplier Soldex SA from Inversiones Breca SA, giving it a larger foothold in South America and increasing its exposure to the energy and natural resources sectors.
The company said Tuesday that the deal was valued at $235 million including the assumption of Soldex debt.
Soldex has plants in Lima, Peru and Bogota, Colombia.
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," Colfax President and CEO Steve Simms said in a statement.
Earlier this month Colfax reported a first-quarter loss, weighed down by acquisition costs.
Colfax is based in Fulton, Md.