Marmon Group Explained

Marmon Holdings, Inc.
Type:Subsidiary
Foundation: in United States
(as Colson Corporation)
Location:181 West Madison Street
Location City:Chicago, Illinois
Location Country:United States
Key People:Angelo Pantaleo (CEO)
Industry:Transportation equipment, Electrical and other industrial components, Food, Beverage & Water, and Retail services
Owner:Berkshire Hathaway

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.

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). 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]

Subsidiaries

The following is a list of subsidiaries of the Marmon Group:[5]

References

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

External links

Notes and References

  1. Web site: Our History. Marmon.com. 28 February 2017.
  2. Web site: Bob Pritzker Bio. ColsonAssociates.com. 28 February 2017.
  3. Book: Labitan. Bud. Moats : The Competitive Advantages of Buffett and Munger Businesses. 2012. 9781105422867. 28 February 2017.
  4. Web site: Jordan . Steve . Berkshire's 'hidden' mega-business: What is Marmon Holdings? . Omaha.com.
  5. Web site: Marmon Businesses in Alphabetical Order. Marmon.com. 26 February 2017.
  6. Web site: Haggerty. Ken. Cannon Equipment acquired by Berkshire Hathaway's Marmon. CannonFalls.com. 28 February 2017.
  7. Web site: Holman. Jordyn. Buffett's Marmon Buys Italy's Dominioni in Pasta-Equipment Wager. Bloomberg.com. 28 February 2017.
  8. Web site: Custom Cable Manufacturer and Wire Company . Marmon Aerospace and Defense . 26 September 2019.

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