Florence, SC – ESAB, a member of the Colfax group of companies, has announced that Colfax has entered into a binding agreement to acquire Victor Technologies Holdings, Inc. (“Victor”).
The acquisition brings together two leading organizations with world-class products, technologies and R&D. In its 110th year, ESAB is one of the largest and most experienced manufacturers of welding and cutting products with sales and support established in 80 countries and manufacturing plants across five continents. Victor has a century-long history of innovation and is recognized for its leading brands, including Victor®, Tweco®, Cigweld® and Stoody®, which are manufactured, sold and serviced around the globe.
The combination of ESAB and Victor creates a comprehensive product portfolio that brings a broader array of solutions to the global welding and cutting industry. Two of the leading suppliers in the industry, both with large, well-diversified geographic footprints, ESAB and Victor will together deliver more value to more customers in more areas of the world.
"Together, we'll use our combined geographic reach, product technologies, channel resources, and most importantly, organizational talent, to provide innovative welding and cutting solutions for our customers,” said Clay Kiefaber, President & CEO ESAB.
ESAB places strong emphasis on constant innovation and improvement guided by the voice of the customer. The Colfax Business System (CBS) will drive ESAB and Victor’s joint efforts to develop new products, provide added value to existing products, and deliver differentiated customer solutions.
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 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 www.colfaxcorp.com.
ABOUT ESAB -- ESAB is one of the world's largest manufacturers of welding consumables, welding and cutting equipment, and associated automation. Founded in 1904, ESAB offers products for virtually every welding and cutting process and application, and is widely recognized as the technological leader in the industry. With manufacturing facilities on five continents and more than 8,000 associates, ESAB delivers products and support services quickly and efficiently to customers around the globe.