Marmon Group

Marmon Holdings, Inc.
TypeSubsidiary
IndustryTransportation equipment, Electrical and other industrial components, Food, Beverage & Water, and Retail services
Founded1953; 73 years ago (1953) in United States
(as Colson Corporation)
Headquarters181 West Madison Street,
Chicago, Illinois
,
United States
Key peopleAngelo Pantaleo (CEO)
OwnerBerkshire Hathaway
Websitewww.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.

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.

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.

The name of the company was changed to Marmon Group in 1964, after the acquisition of Marmon-Herrington. 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.

Subsidiaries

The following is a list of subsidiaries of the Marmon Group:

References

  1. 1 2 "Our History". Marmon.com. Retrieved February 28, 2017.
  2. ↑ "Bob Pritzker Bio". ColsonAssociates.com. Retrieved February 28, 2017.
  3. 1 2 Labitan, Bud (2012). Moats : The Competitive Advantages of Buffett and Munger Businesses. ISBN 9781105422867. Retrieved February 28, 2017.
  4. ↑ Jordan, Steve. "Berkshire's 'hidden' mega-business: What is Marmon Holdings?". Omaha.com.
  5. ↑ "Marmon Businesses in Alphabetical Order". Marmon.com. Retrieved February 26, 2017.
  6. ↑ Haggerty, Ken. "Cannon Equipment acquired by Berkshire Hathaway's Marmon". CannonFalls.com. Archived from the original on August 11, 2020. Retrieved February 28, 2017.
  7. ↑ Holman, Jordyn. "Buffett's Marmon Buys Italy's Dominioni in Pasta-Equipment Wager". Bloomberg.com. Retrieved February 28, 2017.
  8. ↑ "Future Metal Company".
  9. ↑ "Custom Cable Manufacturer and Wire Company". Marmon Aerospace and Defense. Retrieved September 26, 2019.

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