Private equity firm Irving Place Capital and Victor Technologies announced that they have entered into a definitive agreement to sell Victor to Colfax Corporation, a global manufacturer of gas and fluid-handling and fabrication technology products.
The all cash transaction values Victor at approximately $947m, including the assumption of debt, and is subject to customary closing conditions.
Victor is a leading designer and manufacturer of a comprehensive suite of metal cutting, gas control, and specialty welding products. IPC acquired Victor, which was previously named Thermadyne Holdings Corporation, in a take-private transaction in December 2010.
“We are pleased with the progress that we have made in partnership with Irving Place Capital over the past several years as we have built Victor into a stronger company with a greater presence in key global markets and an improved offering for our customers,” stated Martin Quinn, CEO of Victor.
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