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Irving Place Capital gets more than 3x return from Victor Technologies exit

14 Feb 2014

exit sign_sqPrivate equity firm Irving Place Capital is set to get a return of more than three times from the sale of metal cutting, gas control, and specialty welding products maker Victor Technologies to Colfax Corporation.

Victor Technologies, which Irving acquired in a take-private deal in December 2010, was valued at $947m in the deal.
The private equity firm will make a return of more than three times from the sale, said PeHUB, citing a source.

During Irving’s ownership, the company bought gas control equipment maker Gas-Arc Group and ProMotion Controls, which manufactures advanced controls used in plasma cutting.

Victor CEO Martin Quinn said, “We are pleased with the progress that we have made in partnership with Irving Place Capital over the past several years as we have built Victor into a stronger company with a greater presence in key global markets and an improved offering for our customers.”

Last year Irving and fellow private equity firm Oaktree exited paperboard packaging company Chesapeake to Carlyle.

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