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Colfax plans news debt financing for purchase of Victor Technologies
By Sara Rosenberg
New York, Feb. 13 - Colfax Corp. is planning an additional debt issuance under its credit facility to help fund the acquisition of Victor Technologies Holdings Inc., according to a news release.
Other funds for the transaction will come from the sale of 6.5 million shares of common stock, cash on hand and borrowings under its existing credit facility.
Under the agreement, Victor is being bought from Irving Place Capital for total consideration of $947.3 million, including the assumption of debt.
Bank of America Merrill Lynch, Citigroup and Deutsche Bank Securities Inc. are the financial advisors to Colfax. RBC Capital Markets and Blackstone Advisory Partners are acting as financial advisors to Victor.
Closing of the acquisition is subject to customary conditions including Hart-Scott-Rodino antitrust approval.
Colfax is a Fulton, Md.-based manufacturer of gas- and fluid-handling and fabrication technology products. Victor is a St. Louis-based manufacturer of cutting, gas control and specialty welding solutions.
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