On 3 September, our client Colfax Corporation (“Colfax”) (NYSE: CFX), a leading global manufacturer of gas- and fluid-handling and fabrication technology products and services, announced that it had made a binding offer to acquire the Global Infrastructure and Industry (“GII”) business of Fläkt Woods Group (“Fläkt Woods”), a portfolio company of Equistone and Sagard, subject to certain conditions. The transaction would value GII at €193 million, including the assumption of debt.
With approximate revenues of $225 million and EBITDA of $27 million over the last twelve months, GII has operations around the world and is a pre-eminent supplier of industrial fans and related products. The acquisition would complement the geographic and end-market footprint of Colfax’ Howden business, as well as extend Howden’s product portfolio into new segments and applications.
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.
The Canaccord Genuity team comprised Nadim Barouki, Colin Christie, Nicolas Royer, Myriam Hosri and Sam Alexander.