Marmon Group

Last updated
Marmon Holdings, Inc.
Type Subsidiary
Industry Transportation equipment, Electrical and other industrial components, Food, Beverage & Water, and Retail services
Founded1953;71 years ago (1953) in United States
(as Colson Corporation)
Headquarters 181 West Madison Street,
Chicago, Illinois
,
United States
Key people
Angelo Pantaleo (CEO)
Owner Berkshire Hathaway
Website www.marmon.com

Marmon Group is an American industrial holding company headquartered in Chicago, Illinois; founded by Jay Pritzker and Robert Pritzker in 1953 (as Colson Corporation), it has been held by the Berkshire Hathaway group since 2013. It owns companies that produce transportation equipment, electrical components and other industrial components, and companies that provide services in the construction and retail sectors. Tank car manufacturing is a significant part of its business, products which are sold through its subsidiaries Union Tank Car Company in the United States and Procor in Canada. Berkshire Hathaway, which owns the largest freight railroad carrier in North America, BNSF Railway, acquired controlling interest in Marmon in 2007 and became sole owner six years later.

Contents

Origin and history

In 1953, Jay Pritzker and Robert Pritzker acquired Colson Corporation, a struggling manufacturer of casters, bicycles, navy rockets, and wheelchairs with sales of $3 million. [1] [2] The name of the company was changed to Marmon Group in 1964, after the acquisition of Marmon-Herrington. [3] Major acquisitions by Marmon Group have included Cerro Corporation (1976) and TransUnion (1981). [1] [3] In 2007, the Pritzker family sold a 60 percent interest in Marmon Group to Berkshire Hathaway, with plans for Berkshire to acquire the remaining 40% over the course of the next 5–6 years; [4] the remaining minority stake was purchased by Berkshire in 2013. [5]

Subsidiaries

The following is a list of subsidiaries of the Marmon Group: [6]

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References

  1. 1 2 "Our History". Marmon.com. Retrieved 28 February 2017.
  2. ↑ "Bob Pritzker Bio". ColsonAssociates.com. Retrieved 28 February 2017.
  3. 1 2 Labitan, Bud (2012). Moats : The Competitive Advantages of Buffett and Munger Businesses. ISBN   9781105422867 . Retrieved 28 February 2017.
  4. ↑ Bajaj, Vikas (2007). "Rapidly, Buffett Secures a Deal for $4.5 Billion" (online, print). New York Times (December 26). Retrieved July 21, 2009.
  5. ↑ Jordan, Steve. "erkshire's 'hidden' mega-business: What is Marmon Holdings?". Omaha.com.
  6. ↑ "Marmon Businesses in Alphabetical Order". Marmon.com. Retrieved 26 February 2017.
  7. ↑ Haggerty, Ken. "Cannon Equipment acquired by Berkshire Hathaway's Marmon". CannonFalls.com. Retrieved 28 February 2017.
  8. ↑ Holman, Jordyn. "Buffett's Marmon Buys Italy's Dominioni in Pasta-Equipment Wager". Bloomberg.com. Retrieved 28 February 2017.
  9. ↑ "Custom Cable Manufacturer and Wire Company". Marmon Aerospace and Defense. Retrieved 26 September 2019.

https://www.kytrailer.com/News/Article/53/Berkshire-Hathaway-Completes-Acquisition-of-Alleghany-Corporation

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