Colfax Corporation

Colfax Corporation

Colfax Corporation

Started in 1995 with a vision to build a world-class manufacturing enterprise, Colfax has grown from a specialty fluid handling company to a multi-platform diversified industrial company serving hundreds of global industries. A big reason for that growth: the foundational principles and leadership governing every aspect of Colfax operations. Read below about our history, our business philosophy, our leadership and our commitment to health, safety and the environment.

Company details

420 National Business Parkway, 5th Floor , Annapolis Junction , Maryland 20701 USA
View in map

Find locations served, office locations, manufacturers and our distributors.

Business Type:
Manufacturer
Industry Type:
Pumps & Pumping
Market Focus:
Globally (various continents)
Year Founded:
1995

Started in 1995 with a vision to build a world-class manufacturing enterprise, Colfax has grown from a specialty fluid handling company to a multi-platform diversified industrial company serving hundreds of global industries. A big reason for that growth: the foundational principles and leadership governing every aspect of Colfax operations. Read below about our history, our business philosophy, our leadership and our commitment to health, safety and the environment.

Image

Origins

Colfax Corporation was started in 1995 by Steven and Mitchell Rales with a simple but aggressive goal:  building a world-class global industrial enterprise focused on delighting its customers and dedicated to continuous improvement.

The nucleus of our Company came from several acquisitions in the late 1990s, most notably IMO Industries Inc. And Allweiler AG.  These brought Colfax into the fluid handling and mechanical power transmission sectors.

Also in the 1990s, Colfax adopted the Colfax Business System (CBS) as its operating model.  Based on the Danaher Business System and the Toyota Production System, CBS is the foundation of our culture and drives our performance.

Focus and Growth

In the early 2000s, Colfax began reshaping itself into a higher-growth, less cyclical enterprise.  The first step in this strategy was the divestiture of the Company’s mechanical power transmission businesses and subsequent focus on fluid handling.

Through the balance of the decade, Colfax realized substantial organic growth and also strengthened its business with various complementary acquisitions.  In this period, we also integrated our formerly discrete fluid handling companies into a single, global enterprise, Colfax Fluid Handling, with marketing & sales organizations focused on key market sectors.

Transformation

At the beginning of 2012, Colfax began a new chapter with the acquisition of Charter International plc.  Charter brought to Colfax two premier industrial franchises – ESAB and Howden – and transformed our Company into a multi-platform industrial enterprise providing solutions that make the world work.

VISION

We are dedicated to creating an enduring premier global enterprise built on a unique business culture that…

  • Does all things with integrity, respect and candor
  • Has a deep commitment to excellence to associates and customers as its foundation
  • Is known for consistent delivery of world-class performance

VALUES

Customers Talk, We Listen 

  • Maintain a constant focus on quality and speed
  • Create unique, value-added and differentiated solutions
  • Execute robust, repeatable processes that consistently meet or exceed customer expectations
  • Promote positive problem resolution
  • Earn our customers’ business

The Best Team Wins

  • Exhibit high integrity and respect for others
  • Seek fact-based, root cause solutions, not blame
  • Be non-political and non-bureaucratic
  • Demonstrate a high sense of urgency
  • Have a strong level of accountability
  • Strive for a safe work environment
  • Take satisfaction in being a valued member of a winning team

Continuous Improvement (Kaizen) is Our Way of Life

The COLFAX BUSINESS SYSTEM® (CBS) is our culture, and we: 

  • Step out of our comfort zone by setting stretch/breakthrough objectives
  • Demonstrate mastery of CBS tools to help build process capability
  • Experiment and learn everyday
  • Eliminate waste proactively and continuously in every aspect of our business processes
  • Benchmark the best, and then better them

Innovation Defines Our Future

  • Generate breakthrough ideas for technology, products, solutions and processes
  • Provide differentiated customer solutions
  • Create products and services that improve quality of life and environmental stewardship
  • Deliver above market growth

We Compete for Shareholders Based on Our Performance

  • Develop strong, comprehensive strategic plans
  • Build effective operating plans to execute the strategic plan
  • Drive toward absolute best-in-class results to maximize profits, working capital and cash flow

It takes focus, dedication and living our values to achieve success for our customers.  We all play a crucial role in driving our company forward. 

COLFAX BUSINESS SYSTEM

The COLFAX BUSINESS SYSTEM® (CBS) is our unique business-management system. It is a repeatable, teachable process that we use to create superior value for our customers, shareholders and associates.  Rooted in our five core values, it is our culture.  CBS provides the tools and techniques to ensure that we are continuously improving our ability to meet or exceed customer requirements on a consistent basis. 

Each year, Colfax associates in every business are asked to develop aggressive strategic plans which are based on Voice of the Customer.    In these plans, we are very clear about our market realities, our threats, our risks, our opportunities and most importantly, our vision forward.   Execution and measurement of our plans is very important to us, which is where the process comes in.  Our belief is that when we use the tools of CBS to drive the implementation of these plans, we are able to uniquely provide the customer with the world class quality, delivery, cost and growth they require.  And that performance is what ultimately helps our customers and Colfax grow and win on a sustainable basis.   

Core values at the foundation, key focus on the customer, hard targets and metrics along the way and a very systematic methodology to make sure we can execute and sustain in every Colfax Business over the long haul.  That in a nutshell is CBS.

The key to success is our business model, the COLFAX BUSINESS SYSTEM® (CBS)—a customer-focused process, synthesizing strategic planning and execution strategies. It is a powerful force for continuous improvement.

The Best Team Wins Team-oriented, involved associates are our most valuable resource, and we are passionate about attracting, developing and retaining the best talent. Colfax associates win because we:

  • Exhibit high integrity and respect for others
  • Seek fact-based, root cause solutions, not blame
  • Promote from within
  • Are non-political and not bureaucratic
  • Are accountable for best-of-class results, and deliver
  • Strive for a safe work environment
  • Believe that winning is fun

The voice-of-the-customer will always drive the development of our strategic plan, and this will result in

  • A focus on quality and speed always
  • Unique, value-added and differentiated solutions
  • Robust, repeatable processes that consistently exceed customer expectations
  • Positive problem resolution
  • Competitive customer conversions

The COLFAX BUSINESS SYSTEM(CBS) is our culture, and we will deploy it with absolute passion. Additionally, we will:

  • Step out of our comfort zone by setting breakthrough objectives
  • Experiment and learn everyday
  • Aggressively and continuously eliminate waste in every aspect of our business processes
  • Benchmark the best, and then better them

Individual and organizational creativity will drive:

  • Breakthrough ideas for technology, products, solutions and processes
  • Differentiated customer solutions
  • Out-of-the-box ideas, big and small, that add value to our world
  • Above market organic growth

To consistently attract and retain loyal shareholders, we must deliver best-of-class results for

  • Profits
  • Working capital
  • Cash flow

Driving our company forward are our associates. They take on significant challenges and responsibilities, and it pays off. We call it Total Associate Involvement—with our associates playing the crucial role in developing solutions to meet customers’ needs. Many companies talk about an entrepreneurial approach. Colfax lives it, each and every day.