CIRCOR International, Inc., a leading provider of flow control solutions and other highly engineered products, which is headquartered in Massachusetts, has announced that it has signed a definitive agreement to acquire Colfax Fluid Handling (CFH) from Colfax Corporation for approximately USD $855 million including cash, newly issued CIRCOR shares and the assumption of pension plan liabilities linked to the CFH business.
Under the terms of the agreement, CIRCOR will pay USD $542 million in cash, issue approximately 3.3 million new CIRCOR shares to Colfax representing approximately USD $163 million in value and assume global pension plans with a net liability of USD $150 million on a pre-tax basis. Upon closing of the transaction, Colfax will own approximately 16 percent of CIRCOR.