Charter International plc, the parent company of Florence-based ESAB Welding & Cutting Products, has been acquired by Colfax Corporation.
“We are very excited about this acquisition,” Andrew Masterman, President & Chief Executive Officer of ESAB North America said in a news release issued Friday morning.
The company employs 500 people at its Florence facility.
Colfax, based in Fulton, MD., is a diversified industrial manufacturing company. Charter International plc resided in Ireland and was the parent of two leading businesses: ESAB and Howden, a manufacturer of heavy-duty air and gas handling equipment.
“Colfax Corporation is a leading manufacturing company with a proven operating system – the Colfax Business System – and is solidly focused on customer needs and the development of strong brands," Masterman said. "This is a perfect fit for ESAB, as we are a world-class leader in the welding industry – a position we have attained by building strong partnerships with our customers and by creating a brand that is trusted worldwide.”
ESAB employs more than 8,500 people worldwide, and is one of the top manufacturers in the welding industry, which is worth approximately $10 billion per year, the release said. ESAB has sales and support locations in 80 countries, and 26 manufacturing facilities across 4 continents.
“This acquisition will not impact our customers or distributors,” said Mark Elender, Senior Vice President of Sales and Marketing for ESAB North America. “We will continue to provide our customers and distributors with the best products and support services, and we are confident that this transition will be seamless and beneficial to all.”
Colfax Corporation owns 10 brands in the pumping and fluid-handling market.
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