Genstar Acquires Colfax Power Transmission Group
April 16, 2004—Colfax Power Transmission Group was recently acquired by Genstar Capital L.P., a private equity firm. In a related move, Colfax PT has merged with Kilian Manufacturing Co., another Genstar portfolio company, to form an entity called Altra Industrial Motion Inc.
According to Genstar's press release, the combined purchase price for the two companies was approximately $200 million before taxes. Michael Hurt, formerly president of TB Woods, has been appointed as CEO of Altra Industrial Motions.
Existing management personnel of both companies will take leadership roles in the ownership of Altra.
Colfax Power Transmission Group is headquartered in Quincy, MA, and encompasses Boston Gear, Warner Electric Industrial Products, Nuttal Gear and Delroyd Worm Gear, Wichita Clutch, Industrial Clutch, Marland Clutch, Formsprag, Stieber, Warner Electric Europe and Ameridrives Couplings.