Regal rexnord to acquire altra industrial motion

Transforms regal rexnord's automation portfolio into a meaningful, global automation solutions provider, with over 70% of its sales into markets with secular growth tailwinds combines complementary power transmission portfolios to deliver enhanced industrial powertrain solutions for customers re-balances regal rexnord's portfolio between motion control (48% of pro forma sales), climate solutions (15%), commercial systems (15%), automation & specialty (13%), and industrial systems (9%) anticipated annualized cost synergies of $160 million by year four, plus significant revenue cross-marketing opportunities creates compelling value for regal rexnord shareholders, with new growth opportunities and attractive expected financial returns, including accretion in the first full year, double digit accretion thereafter, and roic >10% by year five strong pro forma free cash flow enables rapid de-levering, with net debt/adjusted ebitda expected to be 2.5-3.0x in 2024, and decline to a target of 2.0-2.5x thereafter accelerates r&d and new product development; enhances digital and iiot strategy record combined backlog of ~$2.3 billion 1 improves near-term visibility infuses significant new talent into the organization to support and accelerate growth and margin enhancement initiatives unites aligned cultures with deep commitment to serving customers and driving efficiencies beloit, wis. , oct. 27, 2022 /prnewswire/ -- regal rexnord corporation (nyse: rrx) today announced that it has reached a definitive agreement with altra industrial motion corp. (nasdaq: aimc) providing for regal rexnord to acquire 100% of altra shares in an all cash transaction for $62.00 per share.
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