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{{Short description|American medical technology company}}
{{Infobox company
| name               = Enovis Corporation
| logo               = Enovis logo.svg
| type               = [[Public company|Public]]
| traded_as          = {{ubl|{{NYSE|ENOV}}|[[List of S&P 400 companies|S&P 400]] component}}
| ISIN               = US1940145022
| genre              =
| foundation         = Colfax Corporation, 1995
| founder            = [[Mitchell Rales|Mitchell]] and [[Steven Rales]]
| location_city      = [[Wilmington, Delaware]]
| location_country   = U.S.
| location           = <!--modifies "Headquarters" entry-->
| locations          = <!--# of locations-->
| origins            =
| key_people         = Matthew Trerotola ([[Chief Executive Officer|CEO]])
| area_served        =
| industry           = [[Medical technology]]
| products           =
| services           =
| revenue            =
| operating_income   =
| net_income         =
| num_employees      = 5,000+<ref>{{Cite web|url=https://www.enovis.com/our-story/about-us/|title=About Enovis. &#124; Our Story }}</ref>
| num_employees_year = 2021
| parent             =
| divisions          =
| subsid             =
| owner              =
| caption            =
| homepage           = {{URL|enovis.com}}
| dissolved          =
| footnotes          =
| intl               =
}}
'''Enovis''' is a medical technology company with a focus in [[orthopedics]]. The company was founded by brothers [[Mitchell Rales|Mitchell]] and [[Steven Rales]] as the '''Colfax Corporation''' in 1995. Enovis is headquartered in [[Wilmington, Delaware]] and is listed on the [[NYSE]] as ENOV. The company has over 5,000 employees operating at 12 sites around the world.
== History ==
The company was founded in 1995 as the Colfax Corporation in [[Richmond, Virginia]], by brothers [[Steven Rales|Steven]] and [[Mitchell Rales]].<ref>{{Cite news|url=https://www.washingtonpost.com/lifestyle/magazine/meet-the-very-wealthy-very-private-couple-behind-washingtons-most-original-museum/2018/09/21/b843425a-9f29-11e8-83d2-70203b8d7b44_story.html|title=Meet the very wealthy, very private couple behind Washington's most original museum|last=Edgers|first=Geoff|date=2018-09-24|newspaper=Washington Post|language=en|access-date=2018-10-24}}</ref> In August 1997, Colfax acquired approximately 93% of IMO's common stock through a public tender offer. At the time of the acquisition, IMO was a diversified industrial manufacturer, with $469.0 million in annual revenue and five business units: Boston Gear, IMO Pump, Morse Controls, Gems Sensors, and Roltra Morse. Simultaneously with the closing of the tender offer, IMO divested its Gems Sensors and Roltra Morse units to narrow the strategic focus to power transmission and fluid handling.
In January 2012, Colfax completed the acquisition of [[Charter International]], successor to the [[British South Africa Company]], and the parent company of [[ESAB]] (welding and cutting) and [[Howden (company)|Howden]] (air and gas handling products),<ref>{{cite web|url=http://www.esabna.com/us/en/news/ESAB-Acquired-by-Colfax-Corporation.cfm|title=News|website=www.esabna.com}}</ref> for $2.4 billion.<ref>{{cite web |title=ESAB Parent to be Bought for $2.4 Billion |url=http://weldingdesign.com/news/Colfax-to-buy-Charter/ |url-status=unfit |archive-url=https://web.archive.org/web/20160529104701/http://weldingdesign.com/news/Colfax-to-buy-Charter/ |archive-date=May 29, 2016 |access-date=August 10, 2022 |website=weldingdesign.com}}</ref> More than 25 acquisitions were completed from 2012–2019 to build-out the three industrial businesses, fluid handling, fabrication technologies (ESAB), and air & gas handling (Howden).
In December 2017, Colfax sold its original fluid handling platform to Circor International for cash and stock with a total estimated aggregate consideration of $860 million. In November 2018, Colfax expanded into the medical device space by acquiring [[DJO Global]] from [[The Blackstone Group]] for $3.15bn.<ref name=":0">{{Cite news|url=https://www.reuters.com/article/us-djo-global-m-a-colfax/colfax-churns-its-business-with-3-15-billion-purchase-of-medical-device-maker-idUSKCN1NO1CI|title=Colfax churns its business with $3.15 billion purchase of medical...|last1=Banerjee|first1=Arunima|date=2018-11-19|work=Reuters|access-date=2018-11-21|last2=Sharma|first2=Vibhuti|language=en-US}}</ref> In May 2019, [[KPS Capital Partners]] (KPS) announced that it has signed an agreement to acquire [[Howden Turbo]] from Colfax Corporation for $1.8bn.<ref>{{Cite web|title=KPS Press Releases|url=https://www.kpsfund.com/news/press-releases/2019/05/16/kps-capital-partners-to-acquire-howden-from-colfax-corporation|access-date=2020-06-27|website=KPS Capital Partners|language=en}}</ref>
In March 2021, Colfax announced that it would spin off its [[ESAB]] industrial business in a tax-efficient manner and pursue a focused medical technologies strategy. This spin-off was completed in April 2022, following which ESAB became an independent public company and Colfax was renamed Enovis.<ref>{{Cite web|title=Enovis Press Releases|url=https://ir.enovis.com/news-releases/news-release-details/enovis-formerly-colfax-completes-spin-esab-corporation|access-date=2022-05-16|website=Enovis|language=en}} </ref> The spin-off was the final action taken to transform the portfolio of businesses from purely industrial to medical technologies. These actions included divesting the fluid handling and air and gas handling businesses in 2017 and 2019, respectively, and acquiring [[DJO Global]] in 2019. Additional acquisitions were made, and Colfax went public with an initial public offering in May 2008 as a fluid handling company.<ref>{{cite web|url=https://www.washingtonpost.com/wp-dyn/content/article/2008/07/06/AR2008070601875.html|title=The Quiet Dynamism of the Brothers Rales|first=Thomas|last=Heath|date=7 July 2008|via=washingtonpost.com}}</ref> The headquarters were subsequently moved to Annapolis Junction, Maryland.
In September 2023, Enovis announced that it had reached a definitive agreement to acquire the Villanova di [[San Daniele del Friuli]]-headquartered medical device company [[Lima Corporate|LimaCorporate]] for approximately €800 million.<ref>{{Cite web |title=Enovis™ to Acquire LimaCorporate S.p.A. |url=https://enovis.com/news-events/enovis-to-acquire-limacorporate-s-p-a/}}</ref> On January 3, 2024, it was reported that the purchase of [[Lima Corporate|LimaCorporate]] had been completed.<ref>{{Cite web|url=https://enovis.com/news-events/enovis-completes-acquisition-of-limacorporate-s-p-a/|title=Enovis Completes Acquisition of LimaCorporate S.p.A|work=Enovis|access-date=2024-01-24|language=en}}</ref>
== References ==
{{Reflist}}
==External links==
* {{officialwebsite|enovis.com}}
{{Finance links
| name = Enovis Corporation
| symbol = ENOV
| reuters = ENOV.N
| bloomberg = ENOV:US
| sec_cik = 1420800
| yahoo = ENOV
| google = ENOV
}}
{{S&P 400 companies}}
{{Authority control}}
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Howard County, Maryland]]
[[Category:Manufacturing companies based in Maryland]]
[[Category:Manufacturing companies established in 1995]]
[[Category:1995 establishments in Maryland]]
[[Category:American companies established in 1995]]
[[Category:Companies in the S&P 400]]