11/19/2018, 1:20 PM (Source: TeleTrader)
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Chart for: Colfax Corporation

Colfax to acquire DJO Global for $3.1B

American industrial equipment company Colfax Corp. announced on Monday it will acquire the medical equipment manufacturer DJO Global Inc., based in Vista, California, for $3.15 billion in cash.

DJO Global is currently controlled by The Blackstone Group L.P., an equity management firm from New York City.

"As a clear market leader in bracing and rehabilitation systems - with a track record of innovative new products, globally recognized brands, and a diverse product portfolio - DJO is well-positioned to benefit from secular trends driven by changing demographics and increased preventive healthcare. This transaction reflects our strategic intent to diversify our portfolio and end-market exposure, reduce cyclicality, and increase profitability," said Matt Trerotola, President and Chief Executive Officer of Colfax.

Breaking the News / NI