Altra Holdings, Inc., Quincy, MA, has agreed to buy power-transmission product manufacturer TB Wood’s Corporation, Chambersburg, PA, for $24.80 a share.
TB Wood’s, with sales of $118.9 million in 2006, will become a fully owned subsidiary of Altra.
“TB Wood’s is a great fit with the existing Altra platforms and meets our disciplined acquisition philosophy perfectly, said Michael L. Hurt, chairman and CEO of Altra. “The acquisition of TB Wood’s broadens our growing coupling product line and adds engineered belted drive systems as well as adjustable speed electronic drives and systems to our product portfolio.”
TB Wood’s offering of elastomeric couplings fills a gap for Altra and will expand engineered coupling revenues by more than 50%. Also, as a result of the sale, Altra revenues generated through distribution will increase by about 37%.
TB Wood’s expands Altra’s global footprint by adding facilities in Mexico, Italy and India.
TB Wood’s is a manufacturer of electronic and mechanical industrial power transmission products, which are sold to North American and international manufacturers and users of industrial equipment.
Altra Industrial Motion, a subsidiary of Altra Holdings, Inc., is a multinational producer of electromechanical power transmission products. The company servces six countries and has sales coverage in over 70 countries. Brands include Boston Gear, Warner Electric, Formsprag Clutch, Ameridrives Couplings, Industrial Clutch, Kilian Manufacturing, Marland Clutch, Nuttall Gear, Stieber Clutch, Wichita Clutch, Twiflex Limited, Bibby Transmissions, Matrix International, Inertia Dynamics, Huco Dynatork and Warner Linear.
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