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Stock Market & Financial Investment News

News Breaks
March 12, 2014
09:03 EDTCFXColfax initiated with a Hold at Argus
News For CFX From The Last 14 Days
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May 20, 2015
07:14 EDTCFXElectric Products Group to hold a conference
EPG 2015 is being held in Longboat Key, Florida on May 18-20 with webcasted company presentations to begin on May 20 at 7:30 am; not all company presentations may be webcasted. Webcast Link
May 18, 2015
16:14 EDTCFXColfax announces acquisition of Roots blowers & compressors
Colfax Corporation (CFX) announced that it has entered into a binding agreement to acquire the Roots blowers and compressors business unit , also known as Industrial Air & Gas Technologies, from GE (GE) Oil & Gas for a cash consideration of $185M. Roots is a leading supplier of blower and compressor technologies which service a broad range of end markets, including water treatment, chemical production, and power generation. This acquisition will build on Howden's global strength in compressors and blowers and will add important application expertise and product solutions to the portfolio. In 2014, Roots had approximate revenues of $155 million and EBITDA of $22M. In making the announcement, Steve Simms, President and Chief Executive Officer of Colfax, stated, "I am delighted to welcome the Roots team to Colfax. We are excited by the opportunities created by combining the Roots capabilities and application expertise with Howden's global footprint and continuous improvement culture. Like Howden, the Roots business has spent more than 150 years developing market leading products and solutions, and we look forward to continuing to innovate and grow." Mr. Simms continued, "Strengthening our businesses through bolt-on acquisitions is a core part of our strategy, and we continue to see a robust pipeline of opportunities."Closing of the acquisition is expected early in the third quarter following the fulfillment of certain conditions.
May 13, 2015
09:14 EDTCFXColfax weakness creates buying opportunity, says Argus
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