Press Release Details

Colfax Announces Acquisition of CKD Kompresory

October 1, 2013



Colfax Announces Acquisition of CKD Kompresory

Fulton, MD (October 1, 2013) -- Colfax Corporation ("Colfax") (NYSE: CFX), a leading global manufacturer of gas- and fluid-handling and fabrication technology products, today announced that it has entered into a binding agreement to acquire CKD Kompresory a.s., based in Prague, Czech Republic, from CKD Group.  The transaction values CKD Kompresory at approximately $57 million, including the assumption of debt, and is expected to close in the fourth quarter following the fulfillment of certain conditions.  Upon closing, the business will join the Howden operations and be renamed Howden CKD Compressors s.r.o.

CKD Kompresory is a leading supplier of multi-stage centrifugal compressors to the oil & gas, petrochemical, power and steel industries.  This acquisition will build on Howden's strength in reciprocating, screw and turbo compressors, broadening and enhancing the product portfolio and further expanding the business' geographic footprint in Russia and Eastern Europe.  In 2012, CKD Kompresory had approximate revenues of $40 million and EBITDA of $6.5 million.

In making the announcement, Steve Simms, President and Chief Executive Officer of Colfax, stated, "With a history extending back nearly 150 years, CKD Kompresory is a wonderful brand with a great team and geographic footprint.  This transaction will strengthen Howden's compressor business, and expand Colfax's exposure to end markets with exciting growth potential.

Mr. Simms continued, "We are pleased to announce another investment in the Howden business.  A disciplined acquisition process, coupled with financial flexibility, is allowing us to continue executing on our stated bolt-on acquisition strategy."

Sona Vladarová, Vice-President and Chief Financial Officer of CKD Group, stated, "We are very pleased to have reached this agreement with as strong and reputable a partner as Colfax. We believe Howden's technical expertise, market knowledge, resources and competencies will enable CKD Kompresory to accomplish even more than it has thus far. We also believe there is significant potential for further business cooperation between Colfax and CKD Group.  This divestiture fits CKD Group's long-term strategy to focus on its EPC business in the power sector, oil & gas and infrastructure."

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

ABOUT CKD GROUP  - CKD Group is a group of engineering and manufacturing companies, active in the segments of power generation, gas and oil, ecology and infrastructure. The main focus is on EPC deliveries of full investment projects, technological nodes, individual supplies and provision of components for renewable energy, infrastructure, conventional power generation, transportation, oil and gas processing and electrical engineering.


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 2012 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.

Investor Contact:
Farand Pawlak                                                       
Colfax Corporation
Director, Investor Relations
(301) 323-9054

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Source: Colfax Corp via Thomson Reuters ONE


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