Colfax Completes Acquisition of Mathys AG Bettlach

Rhea-AI Summary

Colfax Corporation (NYSE: CFX) has successfully completed its acquisition of Mathys AG Bettlach for approximately $285 million. The deal was financed by issuing 6,544,522 shares of Colfax common stock to Mathys's former owners, under Section 4(a)(2) of the Securities Act of 1933, indicating a private transaction. This acquisition aligns with Colfax's strategy to enhance its orthopedic and fabrication technology offerings, contributing to its broader goal of separating into two independent companies by early 2022 to unlock value in specialty medical technologies and fabrication technologies.

Positive

• Strategic acquisition of Mathys AG enhances Colfax's orthopedic product portfolio.
• Acquisition value of $285 million financed through stock issuance, reducing cash outflow.

Negative

• Issuing over 6.5 million shares may lead to shareholder dilution.

WILMINGTON, DE, July 28, 2021 (GLOBE NEWSWIRE) -- Colfax Corporation (“Colfax” or the “Company”) (NYSE: CFX), a leading diversified technology company, announced today that it has completed its previously announced acquisition of Mathys AG Bettlach (“Mathys”).

Total acquisition consideration of approximately $285 million was financed through the issuance of 6,544,522 shares of Colfax common stock to the former owners of Mathys. The issuance of Colfax common stock was made in reliance on an exemption from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereunder, as a transaction by the Company not involving a public offering.

About Colfax Corporation

Colfax Corporation (NYSE: CFX) is a leading diversified technology company that provides orthopedic and fabrication technology products and services to customers around the world, principally under the DJO and ESAB brands. The Company uses its Colfax Business System (“CBS”), a comprehensive set of tools and processes, to create superior value for customers, shareholders and associates. In March of 2021, Colfax announced its intention to separate into two independent and public companies, which is targeted to be completed in the first quarter of 2022 to accelerate strategic momentum and unlock additional value creation potential; one business will focus on specialty medical technologies and the other on fabrication technologies. For more information about Colfax and our separation activities, please visit www.colfaxcorp.com.

Contact:
Mike Macek
Vice President, Finance
Colfax Corporation
+1-302-252-9129
investorrelations@colfaxcorp.com

FAQ

What is the value of Colfax's acquisition of Mathys AG?

The acquisition of Mathys AG was valued at approximately $285 million.

How was the acquisition of Mathys AG financed by Colfax?

Colfax financed the acquisition by issuing 6,544,522 shares of common stock to the former owners of Mathys.

What impact does the acquisition of Mathys have on Colfax's business?

The acquisition aims to enhance Colfax's orthopedic and fabrication technology offerings, aligning with its future growth strategy.

When is Colfax expected to separate into two independent companies?

Colfax plans to complete its separation into two independent companies by the first quarter of 2022.