RICHMOND, VA — Colfax Corp., a privately- held manufacturer of fluid handling and power transmission products, has entered into an agreement to sell its Colfax Power Transmission Group division to Genstar Capital, L.P., a private investment firm. Terms of the transaction were not disclosed.
Headquartered in Quincy, Mass., the Colfax Power Transmission Group produces and distributes a wide range of mechanical power transmission products, including industrial clutches and brakes, enclosed gear drives, open gearing and couplings. Colfax PT’s business consists of many of leading power transmission and component manufacturers including Warner Electric, Boston Gear, Formsprag Clutch, Stieber Clutch, Ameridrives Couplings, Wichita Clutch, Nuttall Gear and Delroyd Worm Gear. Colfax PT has estimated revenues of approximately $300 million in 2004, operating in 13 manufacturing facilities around the world.
Merrill Lynch & Co. acted as exclusive financial advisor to Colfax on the transaction.
The transaction is expected to close by year-end.
For more information about Colfax, go to: www.colfaxcorp.com.
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