US-based Colfax acquires Mumbai-based Tushaco Pumps

US-based Colfax Corporation today said it has acquired Mumbai-based Tushaco Pumps from its founding shareholders.

Tushaco Pumps, owned by Turakhia, Shah and Cowlagi families, had revenues of approximately $5 million in fiscal year 2005 with 120 associates. The company, founded in 1967, has facilities in Daman and Vapi.

Colfax did not disclose the terms of the transaction.

Tushaco manufactures internal gear, external gear, shuttle block and gerotor pumps as well as two and three screw pumps for a broad variety of growth markets.

"The acquisition of Tushaco continues the growth of our positive displacement pump portfolio. In addition, it further enhances our manufacturing capabilities in the fast growing Asian market complementing our recently opened plant in Wuxi, China," John A Young, president and CEO of Colfax, said.

Young also said the company would look forward to working with the Turakhia, Shah and Cowlagi families, he added.

Colfax Corporation is a privately held company based in Richmond, Virginia, and is a leading marketer and world-class manufacturer of fluid handling products.