Rexnord Adds Plumbing Platform
RBS Global, Inc., the parent company of Rexnord Corporation, will acquire the plumbing products business of Jacuzzi Brands, Inc. for $950 million in cash.
Rexnord anticipates the purchase price will be financed through an equity investment by private equity firm Apollo Management and its affiliates of $290 million and debt financing of approximately $660 million. This acquisition, which is expected to close in the first quarter 2007, will create a new strategic water management platform for Rexnord.
With this acquisition, Rexnord, a manufacturer of highly engineered power transmission, aerospace and other precision motion technology products, adds another strategic platform.
Zurn is in the multibillion dollar ...