Industrial Machinery & Equipment M&A » By The Online Investor Staff, updated Fri., Jun. 9, 8:00 AM
Recent mergers and acquisitions in the Industrial Machinery & Equipment M&A category.
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Slide #64. Altra Holdings Inc. — Svendborg Brakes A/S and S.B. Patent Holding ApS
Acquirer:
Altra Holdings Inc. (NASDAQ:AIMC)
Acquiree:
Svendborg Brakes A/S and S.B. Patent Holding ApS
Details:
Altra Holdings Inc. announced that it has signed a definitive agreement to acquire the shares of Svendborg Brakes A/S and S.B. Patent Holding ApS (together "Svendborg") for a cash consideration of 80.1 million Euros, less the cash remaining on the balance sheet at close, which is payable upon completion of the acquisition. Altra intends to finance the transaction through a combination of European cash and additional borrowings under its credit agreement. The finalization of the transaction is subject to customary closing conditions, including receipt of required regulatory approvals, and is expected to take place during the fourth quarter of 2013. The acquisition is anticipated to be accretive to Altra Holdings' earnings in 2014 in the range of $0.10 to $0.15 per diluted share, excluding any one-time or acquisition-related costs.
Altra Industrial Motion is a global designer, producer and marketer of a range of electromechanical power transmission motion control products. Co.'s technologies are used in various motion related applications and across a variety of high-volume manufacturing and non-manufacturing processes. Co. consists of two business segments: Power Transmission Technologies (PTT) and Automation and Specialty (A&S). Co.'s PTT segment includes the following primary product offerings: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. Co.'s A&S segment consists of the following primary brands: Kollmorgen, Portescap, Thomson, and Jacobs Vehicle Systems.
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Avg. Broker Rec.
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Hold (2.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
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