Rexnord Corporation, Milwaukee, WI, a manufacturer of precision motion technology products, announced that an affiliate of the private equity firm, Apollo Management, agreed to buy RBS Global, Inc., the corporate parent of Rexnord, for $1.825 billion from private equity firm The Carlyle Group and management.
The transaction is subject to government approvals and other customary conditions and is expected to close in the third calendar quarter of 2006.
George Sherman, non-executive chairman of Rexnord said: "Carlyle has been a supportive partner in positioning Rexnord to be a strategic player in the power transmission and aerospace industries, and I look forward to working with Apollo to continue our growth ...
Share/Bookmark
Rexnord Corporation, Milwaukee, WI, a manufacturer of precision motion technology products, announced that an affiliate of the private equity firm, Apollo Management, agreed to buy RBS Global, Inc., the corporate parent of Rexnord, for $1.825 billion from private equity firm The Carlyle Group and management.
The transaction is subject to government approvals and other customary conditions and is expected to close in the third calendar quarter of 2006.
George Sherman, non-executive chairman of Rexnord said: "Carlyle has been a supportive partner in positioning Rexnord to be a strategic player in the power transmission and aerospace industries, and I look forward to working with Apollo to continue our growth ...
Print subscribers can access all content online for free.
Print and online subscribers:
Log-in
Not a subscriber?
Buy this issue now.
Get unlimited access for one month to more articles and data on this topic with an MDM Research Pass: Only $99.
Get unlimited access for one month to more articles and data on this topic with an MDM Research Pass: Only $99.
Leave a Comment