Colfax Acquires Baric Group
Colfax Corp., a manufacturer of fluid-handling products for critical applications, acquired Baric Group, a supplier of fluid-handling systems mainly for lubrication applications in the oil and gas, petrochemical and power generation markets.
Baric Group, headquartered in Morpeth, U.K., has annual pro forma sales for this year expected to be about US$21.7 million (£14 million) and current backlog, which has been increasing, is about US$43.4 million (£28 million). Colfax expected the transaction to be accretive over the next 12 months.
For more information: www.colfaxcorp.com