Company type | Subsidiary |
---|---|
Industry | Transportation equipment, Electrical and other industrial components, Food, Beverage & Water, and Retail services |
Founded | 1953United States (as Colson Corporation) | in
Headquarters | 181 West Madison Street, , |
Key people | Angelo Pantaleo (CEO) |
Owner | Berkshire Hathaway |
Website | www |
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.
Marmon Group primarily focuses on the industrial space, including companies that produce transportation equipment, electrical components, other industrial components, as well as service-based companies providing services in the construction and retail sectors.
Tank car manufacturing is a significant part of its business, including products which are sold through its subsidiaries Union Tank Car Company in the United States and Procor in Canada. Berkshire Hathaway acquired controlling interest in Marmon in 2007 and became sole owner in 2013.
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 2008, the Pritzker family sold a 63.6 percent interest in Marmon Group to Berkshire Hathaway for $4.8 billion, with plans for Berkshire to acquire the remaining 36.4% over the course of the next 5–6 years; the sale of the remaining stake to Berkshire was completed by 2013. [4]
The following is a list of subsidiaries of the Marmon Group: [5]
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska. Founded in 1839 as a textile manufacturer, it transitioned into a major conglomerate starting in 1965 under the management of chairman and CEO Warren Buffett and vice chairman Charlie Munger (1924-2023). Greg Abel now oversees most of the company's investments and has been named as the successor to Buffett. Buffett personally owns 38.4% of the Class A voting shares of Berkshire Hathaway, representing a 15.1% overall economic interest in the company.
Robert Alan Pritzker was an American businessman and member of the wealthy Pritzker family.
Union Tank Car Company or UTLX is a railway equipment leasing, rail car maintenance, and rail car manufacturing company headquartered in metro Chicago, Illinois. A direct descendant of Standard Oil, the firm today is owned by Berkshire Hathaway.
The Marmon-Herrington Company, Inc. is an American manufacturer of axles and transfer cases for trucks and other vehicles. Earlier, the company built military vehicles and some tanks during World War II, and until the late 1950s or early 1960s was a manufacturer of trucks and trolley buses. Marmon-Herrington had a partnership with Ford Motor Company, producing trucks and other commercial vehicles, such as buses. The company may be best known for its all-wheel-drive conversions to other truck maker's units, especially to Ford truck models. Founded in 1931, Marmon-Herrington was based in Indianapolis, Indiana, with a plant in Windsor, Ontario, and remained in Indianapolis until 1963. It is now based in Louisville, Kentucky.
Abram Nicholas Pritzker was an American businessman and attorney, and a member of the Pritzker family.
TTI, Inc., is a distributor of electronic components that include capacitors, resistors, connectors, switches, relays, circuit protection, electromagnetics, discrete semiconductors, sensors, RF modules, and antennas.
Precision Castparts Corp. is an American industrial goods and metal fabrication company that manufactures investment castings, forged components, and airfoil castings for use in the aerospace, industrial gas turbine, and defense industries. In 2009 it ranked 362nd on the Fortune 500 list, and 11th in the aerospace and defense industry. In 2015 it ranked 322nd overall and 9th in the aerospace and defense industry. In 2014 it ranked 133rd on the S&P 500 based on market capitalization. In January 2016, the company became a wholly owned subsidiary of Berkshire Hathaway. Before that event, it used to be one of the three Fortune 500 companies headquartered in Oregon.
AmSafe Inc. is a manufacturer of air safety and securement products to the aerospace, defense, and ground transportation industries and maker of aircraft seatbelts. AmSafe makes the Aviation Inflatable Restraint (AAIR), a seatbelt airbag approved by the FAA designed to improve occupant protection from serious head injury during an otherwise unsurvivable aircraft accident. The airbag allows manufacturers and airlines to meet the FAA 16g seat retrofit rule that mandates all aircraft comply by October 2009 (1).
Sumitomo Electric Industries, Ltd. is a manufacturer of electric wire and optical fiber cables. Its headquarters are in Chūō-ku, Osaka, Japan. The company's shares are listed in the first section of the Tokyo, Nagoya Stock Exchanges, and the Fukuoka Stock Exchange. In the period ending March 2021, the company reported consolidated sales of US$26,5 billion.
Mitsui & Co., Ltd. is one of the largest sogo shosha in Japan; it is part of the Mitsui Group.
Carpenter Technology Corporation develops, manufactures, and distributes stainless steels and corrosion-resistant alloys. In fiscal year 2018, the company's revenues were derived from the aerospace and defense industry (55%), the industrial and consumer industry (17%), the medical industry (8%), the transportation industry (7%), the energy industry (7%), and the distribution industry (6%). The company's products are used in landing gear, shaft collars, safety wires, electricity generation products, intervertebral disc arthroplasty, and engine valves and weldings.
The Scott Fetzer Company, a subsidiary of Berkshire Hathaway, is an American diversified manufacturer and marketer of products for the home, family, and industry comprising 33 brands, headquartered in Westlake, Ohio.
Acumed, LLC is a privately owned medical device manufacturer based in Hillsboro, Oregon in the Portland metropolitan area of the United States. Founded in 1988, the company employs nearly 500 people domestically and internationally who design, manufacture, and market orthopedic implants and surgical devices. The company is a subsidiary of Colson Associates, a spin-off of the Marmon Group, a Berkshire Hathaway company.
Loos & Co., Inc. is a privately owned manufacturing company located in Pomfret, Connecticut. Their focus is in aircraft cable, wire rope, plastic coated steel cable, cable assemblies and stainless steel wire products
Campbell Hausfeld is a manufacturer of consumer, industrial, and commercial grade, low priced air compressors and related products, based in Harrison, Ohio. It is a major subsidiary of the Marmon Group which in turn is part of Berkshire Hathaway. It is one of the oldest companies in Ohio.
Karen L. Pritzker is an American documentary film producer, investor, and philanthropist. She is a member of the Pritzker family, the granddaughter of A.N. Pritzker and daughter of Robert Pritzker.
Jennifer Natalya Pritzker is an American investor, philanthropist, and member of the Pritzker family. Pritzker retired as a lieutenant colonel from the Illinois Army National Guard (ILARNG) in 2001, and was later made an honorary Illinois colonel. Founder of the Tawani Foundation in 1995, Tawani Enterprises in 1996, and the Pritzker Military Museum & Library in 2003, Pritzker has been involved with civic applications of inherited and accrued wealth, including significant donations to broaden understanding and support for "citizen soldiers."
Tungaloy Corporation is a company that specializes in production and sales of metal cutting tools as well as industrial products. Headquartered in Iwaki, Fukushima, Japan, it was the first company in the country to succeed in developing superhard alloy. Tungaloy is a member of the International Metalworking Companies (IMC), which is owned by Berkshire Hathaway. In November 2011, the company celebrated the opening of its new production facility in Japan; as the Chairman, President, and CEO of Berkshire Hathaway, Warren Buffett took part in the ceremony.
Kerite is an American manufacturing company, which manufactures and installs power cables. The company is based in Seymour, Connecticut.