Altra Holdings is to acquire privately held Danfoss Bauer's gearmotor business for eur 43.1 million cash, with the deal expected to close during the second quarter.
Bauer, which makes high-quality gearmotors, offers engineered solutions to industries, including material handling, metals, food processing and energy, covering Germany and 15 additional countries in Europe, Russia, China, and the US.
"The acquisition of Bauer meets all of our acquisition criteria and we are looking forward to Bauer becoming an important part of Altra," says Carl Christenson, Altra president and CEO.
"The Bauer brand is very well regarded, the products are a terrific extension to our line and the geographic strengths of Bauer and Altra will provide synergistic top-line opportunities," he adds.
