Colfax Corporation, Annapolis, Maryland, announced that it will buy DJO Global, Vista, California, in a $3.15 billion cash transaction. DJO Global, which employs 5,000 people worldwide, is owned by private equity funds managed by Blackstone Group. DJO Global provides orthopedic medical technologies; one of its key brands is Dr. Comfort, Mequon, Wisconsin.
Per the agreement, Colfax will fund the buyout with $100 million in cash, amounts raised through credit facilities and debts, and $500-$700 million from offerings of equity or equity-linked securities. The buyout is expected to close in the first three months of 2019.