3 Firms Steer KPS' $1.8B Deal For Colfax Engineering Unit

By Matthew Guarnaccia (May 16, 2019, 12:27 PM EDT) -- KPS Capital Partners said Thursday it will take over the air and gas handling business of Colfax Corp. in a $1.8 billion deal, with Paul Weiss steering the buyer and Kirkland and Ellis and Baker Botts guiding the seller.

The deal will see KPS take over Glasgow, Scotland-headquartered Howden, a manufacturer of fans, compressors, heat exchangers, steam turbines and other equipment used in a variety of industrial settings.

KPS said it will pay $1.66 billion in cash for Howden, with the remaining $140 million coming in the form of "assumed liabilities and minority interest." Neither KPS nor Colfax elaborated further on...

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