{"id":853,"date":"2012-02-15T12:35:14","date_gmt":"2012-02-15T10:35:14","guid":{"rendered":"http:\/\/www.blog.asmus-puhl.com\/?p=853"},"modified":"2012-02-15T12:35:37","modified_gmt":"2012-02-15T10:35:37","slug":"colfax-got-a-lot-bigger","status":"publish","type":"post","link":"http:\/\/www.blog.asmus-puhl.com\/?p=853","title":{"rendered":"Colfax got a lot bigger!"},"content":{"rendered":"<p style=\"text-align: justify;\">Colfax (NYSE: CFX) the \u201efluid handling company&#8221; got a lot bigger!<br \/>\nColfax on January 13th 2012 completed the acquisition of Charter plc.\n<\/p>\n<p style=\"text-align: justify;\">To remember: This is the biggest acqisition for the still relatively young Colfax Corp. The price for this acquisition was $2.4 bil and was financed as a debt\/equity deal.<\/p>\n<p style=\"text-align: justify;\">This acquisition ads 2 totally new business lines to Colfax:<br \/>\n&#8211; ESAB cutting and welding and<br \/>\n&#8211; Howden which furnishes precision air and gas handling equipment\n<\/p>\n<p style=\"text-align: justify;\">So no wonder that this topic dominated the FY 2011 Earnings Conference Call. <a href=\"http:\/\/ir.colfaxcorp.com\/events.cfm\" target=\"_blank\">The replay you can find on the company&#8217;s Investor Relations website.<\/a><\/p>\n<p style=\"text-align: justify;\">Colfax already charged acquisition costs of more than $25 mil in Q4 2011 and therefore swung to a loss.<\/p>\n<p style=\"text-align: justify;\">But the existing business performed rather well in this difficult economic environment:<br \/>\noperating margin was up 1,6 % in FY 2011 reflecting productivity improvements. Bookings were up 28% or 12% organically.\n<\/p>\n<p style=\"text-align: justify;\">Don&#8217;t forget that Colfax thanks to its \u201eColfax Business System&#8221; is in a sort of permanent resstructuring mode.<\/p>\n<p style=\"text-align: justify;\">In the 2 acquired new business lines they are already at work cutting costs. They want to cut them by at least $ 100 mil over the next 3 &#8211; 5 years in order to reach a double digit ROIC within this time frame and an improvement of the operating margin every year!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Colfax (NYSE: CFX) the \u201efluid handling company&#8221; got a lot bigger! Colfax on January 13th 2012 completed the acquisition of Charter plc. To remember: This is the biggest acqisition for the still relatively young Colfax Corp. The price for this acquisition was $2.4 bil and was financed as a debt\/equity deal. This acquisition ads 2 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/853"}],"collection":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=853"}],"version-history":[{"count":8,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/853\/revisions"}],"predecessor-version":[{"id":861,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/853\/revisions\/861"}],"wp:attachment":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=853"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}