Colfax to buy Charter for $2.4 billion

Howard County-based Colfax Corp., an industrial pumps manufacturer founded by Washington billionaires Mitchell and Steven Rales, announced Monday a $2.4 billion cash-and-stock offer to buy Charter International.

Colfax had sales of $533 million last year, compared with Charter’s $2.7 billion.

The Rales brothers in 1984 founded Danaher Corp., a District-based industrial conglomerate with a market cap of $30 billion. Colfax shares closed down 8.59 percent Monday.

heatht@washpost.com

Thomas Heath is a local business reporter and columnist, writing about entrepreneurs and various companies big and small in the Washington Metropolitan area. Previously, he wrote about the business of sports for The Post’s sports section for most of a decade.

business

economy

Success! Check your inbox for details. You might also like:

Please enter a valid email address

See all newsletters

Comments
Show Comments
Most Read Business

business

economy

Success! Check your inbox for details.

See all newsletters