Divestiture • Manufacturing

Madison Industries Acquires Cofimco

On January 3, 2005, private equity firm Madison Industries acquired manufacturer Cofimco from SPX Technologies for 28M USD

Acquisition Context
  • This is Madison Industries’ 1st transaction in the Manufacturing sector.
  • This is Madison Industries’ 4th largest (disclosed) transaction.
  • This is Madison Industries’ 2nd transaction in Italy.
Investment Fate
  • Cofimco was divested to a consortium of buyers in 2023.

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M&A Deal Summary

Date January 3, 2005
Target Cofimco
Sector Manufacturing
Buyer(s) Madison Industries
Sellers(s) SPX Technologies
Deal Type Divestiture
Deal Value 28M USD

Target Company

Cofimco

Pombia, Italy
Cofimco is a designer and manufacturer of highly engineered aluminum and fiberglass axial fans for sophisticated and demanding cooling tower, evaporative condenser, and air-cooled condenser fan applications. Cofimco was founded in 1975 and is based in Pombia, Italy.
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Buyer Overview 1

Buyer

Madison Industries

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
Size Large
Type Sector Focused
DESCRIPTION

Madison Industries is a privately held investment holding firm that targets growth investments in and acquisitions of industrial manufacturing companies. Madison prefers businesses with a defensible market niche, established technology, and significant cash-flow growth potential. Madison will also consider turnaround situations. Target opportunities generally have sales between $50 million and $2 billion. Madison Industries is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 14 of 50
Sector: Manufacturing 1 of 13
Type: Divestiture 7 of 17
Country: Italy 2 of 2
Year: 2005 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-14 Dynisco

Franklin, Massachusetts, United States

Dynisco LLC is a provider of software and highly engineered test, measurement and control technologies utilized in process industries with emerging applications in life science.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-21 API Heat Transfer

Buffalo, New York, United States

API Heat Transfer is a designer and manufacturer of a wide range of heat transfer technologies that service virtually every industrial market including food and beverage, dairy, compressors, air separation, chemical processing, mobile vehicles, power generation, pharmaceuticals, HVAC, and a wide variety of general industrial applications.

Sell -

Seller Profile 1

SELLER

SPX Technologies

Charlotte, North Carolina, United States

Category Company
Founded 1912
Sector Machinery
Employees4,300
Revenue 2.0B USD (2024)
DESCRIPTION
Entrance to SPX's corporate headquarters in Charlotte, North Carolina.
Entrance to SPX's corporate headquarters in Charlotte, North Carolina.

SPX Technologies is a provider of highly specialized, engineered solutions for the energy and food/beverage industries. Key products include processing systems and components for the food and beverage industry, pumps, valves and filtration equipment used in oil and gas processing, power transformers used by utility companies, and cooling systems for power generation plants and HVAC applications. SPX Technologies was founded in 1912 and is based in Charlotte, North Carolina.


Deal Context for Seller #
Overall 10 of 23
Sector: Manufacturing 5 of 7
Type: Divestiture 10 of 23
Country: Italy 1 of 1
Year: 2005 1 of 2
Size (of disclosed) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-31 Dezurik

Sartell, Minnesota, United States

DeZurik is a designer and manufacturer of municipal water and wastewater flow control valves. DeZurik has been engaged in the development, manufacture, and sale of niche flow control valves. DeZurik’s engineers have continually developed a wide range of innovative products focused on providing solutions for customers in the water and wastewater treatment industries. Dezurik was founded in 1925 and is based in Sartell, Minnesota.

Sell $30M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-07 Filtran Aftermarket Products

Miami Lakes, Florida, United States

FAP provides complete sealing solutions for the automotive transmission market, including re-builders, original equipment manufacturers and distributors.

Sell -

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