CIRCOR International Inc., a provider of flow control solutions and other highly engineered products for markets including oil and gas, power, process, and general industrial, has signed an agreement to acquire Colfax Fluid Handling (CFH) from Colfax Corp. for approximately US$885 million. The acquisition will expand CIRCOR’s product and service offering while strengthening its position as a provider of flow control solutions.
CFH is a global provider of engineering, development‚ manufacturing‚ distribution‚ service, and support of fluid handling systems and a supplier of screw pumps for high demand, severe service applications.
“CFH’s differentiated product offering enhances our ability to provide critical flow control solutions, and expands our presence into new markets,” said Scott Buckhout, president and CEO of CIRCOR.
CIRCOR’s Board of Directors has unanimously approved the transaction, which is subject to regulatory approvals and other customary closing conditions, and is expected to close by the end of 2017. Following the close of the transaction, the CFH portfolio of brands will remain in place and the majority of the business will operate as a separate segment within CIRCOR, the company said.