New York – Private equity firm Irving Place Capital and Victor Technologies, St. Louis, MO, 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 US$947 million, including the assumption of debt, and is subject to customary closing conditions.
Victor is a 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.
In July 2012, Victor acquired Robotronic Oy, the parent company of ProMotion Controls, Inc., a manufacturer of advanced controls used in plasma cutting, and in October 2013, Victor acquired Gas-Arc Group, Ltd., a designer and manufacturer of gas control equipment in the United Kingdom.
Victor Technologies provides solutions for cutting, gas control and specialty welding equipment under brand names that include Victor, VictorThermal Dynamics, VictorArcair, VictorTurboTorch, Tweco, Thermal Arc, Stoody, Firepower and Cigweld.
Irving Place Capital is a middle-market private equity firm that invests in buyouts, recapitalizations, and growth capital opportunities.