The acquisition comes roughly a year after the merger between Regal Beloit and Rexnord Corp.
Latest In Rexnord
November continued an upward trend in mergers and acquisitions seen during the prior month, as well as during this year’s third quarter.
The manufacturer of industrial powertrain solutions, power transmission components and electric motors acquired Arrowhead Systems.
The company doubled its profit during the quarter as “momentum across our business continues to accelerate,” according to the CEO.
Blockbuster deal involves Rexnord performing a tax-free spin-off of PMC to its shareholders and then immediately combining it with Regal in a Reverse Morris Trust transaction.
