Industry Update: Industrial Machinery

Industry Highlights

  • On February 16, 2021, Regal Beloit Corporation and Rexnord Corporation
    announced that they have reached a definitive agreement whereby Rexnord will separate its Process & Motion Control segment by way of a tax-free spin-off to Rexnord shareholders and then immediately combine it with Regal in a Reverse Morris Trust transaction. With the addition of PMC, Regal’s 2020 pro forma revenue was approximately $4.1 billion with adjusted EBITDA of $740 million, excluding $120 million in annualized cost synergies expected to be achieved by year three after closing.
  • On February 2, 2021, Nordson Corporation announced it has closed the divestiture of the screws and barrels product line from its polymer processing systems (PPS) division to Altair Investments, a private equity firm that specializes in the manufacturing companies in the middle market.

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