Colfax Corp. stock (NYSE: CFX) on Wednesday Sept. 11 reached a new 52-week high at $56.28 and closed the trading day at $55.72, reflecting a year-to-date return of 65.0%.
Capitalism at work!
Cheers!
Colfax (NYSE: CFX) started the “acquisition tour” it already announced in its Q2 2013 conference call by acquiring Fläkt Woods Group’s Global Infrastructure and Industry Business!
The price they paid appears very reasonable at about 9 times EBITDA and 1.1 times revenue.
The task for this acquisition specialist obviously will be to bring it up to Colfax margin standards by applying their Colfax Business System (“CBS”) tools and integrating it into the Howden business.
And their will be more news to come at the acquisition front as CEO Steve Simms stated in the press release: their is still money left from the May 2013 public offering waiting to be spent!
Stay tuned!