Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
RALES STEVEN M
  2. Issuer Name and Ticker or Trading Symbol
Colfax CORP [CFX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
2099 PENNSYLVANIA AVENUE, N.W., 12TH FLOOR
3. Date of Earliest Transaction (Month/Day/Year)
05/13/2008
(Street)

WASHINGTON, DC 20006
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Series A Convertible Preferred Stock, par value $.001 05/13/2008   J(1)   4,571.0175 D (1) 0 D  
Common Stock, par value $.001 05/13/2008   J(1)   253,945 A $ 18 9,380,167 D  
Common Stock, par value $.001 05/13/2008   S   253,945 D $ 18 9,126,222 D  
Series A Convertible Preferred Stock, par value $.001 05/13/2008   J(2)   130,964.811 D (2) 0 I (3) By Colfax Capital Corporation
Common Stock, par value $.001 05/13/2008   J(2)   7,275,823 A $ 18 7,275,823 I (3) By Colfax Capital Corporation
Common Stock, par value $.001 05/13/2008   S   7,275,823 D $ 18 0 I (3) By Colfax Capital Corporation
Series A Convertible Preferred Stock, par value $.001 05/13/2008   J(4)   34,677.982 D (4) 0 I (3) By Janalia Corporation
Common Stock, par value $.001 05/13/2008   J(4)   1,926,555 A $ 18 1,926,555 I (3) By Janalia Corporation
Common Stock, par value $.001 05/13/2008   S   1,926,555 D $ 18 0 I (3) By Janalia Corporation
Common Stock, par value $.001               19,388 I (3) By Capital Yield Corporation

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
RALES STEVEN M
2099 PENNSYLVANIA AVENUE
N.W., 12TH FLOOR
WASHINGTON, DC 20006
    X    

Signatures

 /s/ Thomas M. O'Brien, Attorney-in-Fact   05/14/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) 4,571.0175 shares of Series A Convertible Preferred Stock owned by the reporting person converted automatically into 253,945 shares of the issuer's Common Stock upon the closing of the issuer's initial public offering. The conversion is eligible for the exemption provided by Rule 16b-7 promulgated under the Securities Exchange Act of 1934.
(2) 130,964.811 shares of Series A Convertible Preferred Stock owned indirectly by the reporting person converted automatically into 7,275,823 shares of the issuer's Common Stock upon the closing of the issuer's initial public offering. The conversion is eligible for the exemption provided by Rule 16b-7 promulgated under the Securities Exchange Act of 1934.
(3) These shares are held by an entity of which Steven M. Rales and Mitchell P. Rales are the sole stockholders. The reporting person disclaims beneficial ownership of these securities to the extent that they are benifically owned by Mitchell P. Rales.
(4) 34,677.982 shares of Series A Convertible Preferred Stock owned indirectly by the reporting person converted automatically into 1,926,555 shares of the issuer's Common Stock upon the closing of the issuer's initial public offering. The conversion is eligible for the exemption provided by Rule 16b-7 promulgated under the Securities Exchange Act of 1934.

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