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Colfax Corporation history
Colfax Corporation company history timeline
Imo boasted a history that dated back to the 1901 origin of the De Laval Steam Turbine Company, which manufactured some of the inventions of Sweden's version of Thomas Edison, Doctor Carl Gustaf Patrick de Laval, including steam turbines, centrifugal pumps, gears, and compressors.
Rales Brothers Pursue Their Own Legacy in 1979
In 1979, after working for their father, eldest son Steven along with brother Mitchell struck out on their own, forming an investment partnership that focused on less-than-glamorous manufacturing companies.
Then in 1983 they acquired a struggling Florida real estate investment trust, DMG Inc., and subsequently sold off the real estate holdings and bought their Master Shield and Mohawk Rubber interests.
In 1986, De Laval acquired Imo AB, a Swedish company, and changed its name to Imo DeLaval, Inc.
Although he was very much a candidate to eventually head Emerson, Knisely decided in 1988 to leave the company and take over AMF Bowling, which had recently been bought from corporate raider Irwin Jacobs.
Transamerica subsequently spun-off the business to shareholders, making it an independent company, which in 1989 changed its name to Imo Industries.
By 1991 it ranked 373rd on the Fortune 500 with $929 million, but was suffering setbacks as the economy soured.
The first step in the creation of this entity came in 1996 with the formation of Ameridrives L.P., created to acquire the Mechanical Power Transmission Group of Zurn Industries Inc., makers of couplings, clutches, universal joints, spindles, and steel.
In August 1997, Colfax Corporation acquired approximately 93% of IMO's common stock through a public tender offer.
The combined assets of the reconstituted Colfax totaled $536 million in sales for 1997.
The Rale Brothers created a third entity, Constellation Pumps, in February 1998.
In February 1998, IMO sold Roltra Morse to Magna International.
In July 1998 the German-based Allweiler was purchased to enhance the position in the Fluid Handling segment.
The Warner assets, with some 3,000 employees and 22 manufacturing and assembly facilities located around the world, combined for $360 million in revenues for 1998.
1998: Other Rales' assets are merged with Colfax and a public offering is planned.
Warner Electric Assets Acquired in 2000
In February 2005 the Power Transmission group was sold to Genstar Capital.
Acquisitions were then made of Zenith Pumps (from Parker Hannifin), Portland Valve, Lubrication Systems Company (Jan 2007) and Fairmount Automation (Nov 2007) to the Fluid Handling platform.
Colfax went public with an initial public offering in May 2008, after first quarter net profit of that year was $8.8 million.
The revenue of the company for 2012 was $3 billion.
In July 2015, Matthew Trerotola was appointed CEO. In the 7 months following, the stock price fell by 40%, and Trerotola was awarded a $9 million bonus.
In December 2017, Colfax sold its fluid handling platform to Circor for cash and stock.
In August 2018, Reuters reported that "Colfax Corp (CFX.N) has an 8 percent sales exposure to Russia, according to the Goldman Sachs note."
In November 2018, Colfax expanded into the medical device space by acquiring DJO Global from The Blackstone Group for $3.15 billion.
In a compelling next step that marked a pivotal point in the company’s journey, Colfax made a significant investment and acquired orthopedic solutions leader DJO in 2019.
Colfax launched a new brand for the company in 2019.
In 2022, Colfax separated from ESAB and rebranded to Enovis Corporation.
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Colfax Corporation competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| IDEX | 1987 | $3.3B | 7,075 | 326 |
| Flowserve | 1997 | $4.6B | 17,000 | 238 |
| Emerson | 1890 | $15.2B | 83,500 | 888 |
| Parker Hannifin | 1917 | $19.9B | 57,170 | 761 |
| Dover | 1955 | $7.7B | 23,000 | 418 |
| Valmont Industries | 1946 | $4.1B | 9,800 | 283 |
| Crane Co. | 1855 | $1.5B | 11,000 | 168 |
| Praxair | 1907 | $11.4B | 26,461 | - |
| Dresser-Rand Group | 2004 | $2.8B | 11,001 | - |
| SPX | 1912 | $2.0B | 6,000 | 183 |
Colfax Corporation history FAQs
Zippia gives an in-depth look into the details of Colfax Corporation, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Colfax Corporation. The employee data is based on information from people who have self-reported their past or current employments at Colfax Corporation. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Colfax Corporation. The data presented on this page does not represent the view of Colfax Corporation and its employees or that of Zippia.
Colfax Corporation may also be known as or be related to Colfax, Colfax CORP, Colfax Corporation and Enovis Corporation.