Colfax Corp. (NYSE: CFX), an Annapolis Junction-based technology company, announced Monday that it had entered into an agreement to sell its fluid handling business to CIRCOR International Inc.
CIRCOR, an industrial systems supplier based in Massachusetts, will pay Colfax $542 million in cash and 3.3 million shares. The company has also agreed to assume $150 million in pension liabilities. Colfax agreed to hold onto its shares for at least six months after the deal closes.
The fluid handling business manufactured products support power generation, wastewater, gas compression and chemical processing operations.