Marmon Group

Marmon Group is a United States 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.[not verified in body] It owns companies that produce transportation equipment, electrical components, and other industrial components,[not verified in body] and companies that provide services in the construction and retail sectors.[not verified in body] Tank car manufacturing is a significant part of its business,[not verified in body] products which are sold through its subsidiaries Union Tank Car Company in the United States[not verified in body] and Procor in Canada.[not verified in body] Berkshire Hathaway, which owns the largest freight railroad carrier in North America, BNSF Railway,[not verified in body] acquired controlling interest in Marmon in 2007 and became sole owner six years later.

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]

References

  1. ^ a b "Our History". Marmon.com. Retrieved 28 February 2017.
  2. ^ "Bob Pritzker Bio". ColsonAssociates.com. Retrieved 28 February 2017.
  3. ^ a b Labitan, Bud (2012). Moats : The Competitive Advantages of Buffett and Munger Businesses. 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.

External links