Netzsch Announces Agreement with Colfax
May 20, 2003
Netzsch Group recently announced that it will join with Colfax Corp., which has signed an agreement to acquire all shares of Netzsch. The transaction is expected to be completed in May 2003, subject to regulatory approvals. Netzsch Group, headquartered in Selb, Germany, is a leading producer of pumps, grinding and dispersing equipment, and filtration systems, as well as analyzing and test equipment for a broad variety of growth markets and customers. Colfax, a privately held company headquartered in Richmond, Va., is one of the leading providers of fluid handling and power transmission products in the world. "We see in Colfax the ideal partner to further strengthen the global presence and growth of the group," said Thomas Netzsch, executive shareholder. John A. Young, president and CEO of Colfax, said, "The Netzsch Group is extremely complementary to both our existing product offerings and our customer base. Netzsch also provides Colfax with broader international scope, expanding our capabilities in Asia and South America and also our core European and North American markets."