Colfax Buys Baric Group

Industrial pump maker said it bought Baric Group, a British company that makes lubricating pumping systems for the petroleum and energy industry.

RICHMOND, Va. (AP) -- Industrial pump maker Colfax Corp. said on Friday that it has bought Baric Group, a British company that makes lubricating pumping systems for the petroleum and energy industry.

Colfax said Baric has annual revenue of about 14 million pounds ($21.8 million). Baric should add to Colfax profits within the next year. Other terms of the deal were not disclosed.

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