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Private equity firm Irving Place Capital has agreed to sell its subsidiary Victor Technologies to Colfax Corporation (NYSE: CFX), a global manufacturer of gas- and fluid-handling and fabrication technology products. Victor is valued at approximately $947 million, including the assumption of debt.
IPC acquired Victor, which was previously named Thermadyne Holdings Corporation, in a take-private transaction in December 2010.
In conjunction with the transaction, Victor provided estimated financial information for the fiscal year ended December 31, 2013: net sales were about $500 million and Adjusted EBITDA was $100 million to $102 million.