Colfax Corp., the Richmond-based maker of industrial pumps and valves, said Friday that it acquired Baric Group of the United Kingdom.
The company, headquartered on Stony Point Parkway, did not disclose the terms of its purchase of Baric, which makes fluid handling systems for the petroleum industry.
No financial details of the deal were made available. Mitzi Reynolds, a Colfax spokesperson said the company conducted the deal on its own without the help of any brokers. The company did say in a release that Baric had annual sales of 14 million British pounds sterling, which is equal to about $21.7 million and backlogged orders valued at about $43.4 million.
Colfax employs more than 2,000 worldwide and has 13 production facilities in seven countries. It only has about 25 local employees. It has offices in places as far as Hong Kong, Shanghai, Bahrain and India.
About 76 percent of its $525 million in revenue in 2009 came from operations outside the U.S., with the majority in Europe.
Colfax Corp., the Richmond-based maker of industrial pumps and valves, said Friday that it acquired Baric Group of the United Kingdom.
The company, headquartered on Stony Point Parkway, did not disclose the terms of its purchase of Baric, which makes fluid handling systems for the petroleum industry.
No financial details of the deal were made available. Mitzi Reynolds, a Colfax spokesperson said the company conducted the deal on its own without the help of any brokers. The company did say in a release that Baric had annual sales of 14 million British pounds sterling, which is equal to about $21.7 million and backlogged orders valued at about $43.4 million.
Colfax employs more than 2,000 worldwide and has 13 production facilities in seven countries. It only has about 25 local employees. It has offices in places as far as Hong Kong, Shanghai, Bahrain and India.
About 76 percent of its $525 million in revenue in 2009 came from operations outside the U.S., with the majority in Europe.