Pumps and fluid-handling products maker Colfax Corp (CFX.N) said it bought a majority stake in welding product supplier Soldex S.A. (SDC.LM) for $235 million, including debt, to expand its presence in South America.
Colfax said it acquired 91 percent interest in Soldex from Peru-based Inversiones Breca S.A. and its affiliates.
The company said the buyout helps it expand along South America's fast-growing Pacific coast, and increase its exposure to the energy and natural resources sectors.
Shares of the Fulton, Maryland-based Colfax closed at $28.91 on Friday on the New York Stock Exchange.
This article is copyrighted by Reuters
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