Regal Rexnord is to expand its power transmission portfolio via the acquisition of Altra Industrial Motion, an industrial automation business based in Braintree, Massachusetts.
Regal Rexnord CEO Louis Pinkham said: "This acquisition opens up many new avenues for profitable growth. In particular, Altra's Automation & Specialty platform transforms our existing automation portfolio – namely ModSort and Automation Solutions (formerly Arrowhead) – into a meaningful, global automation solutions provider.”
Rexnord added: “The transaction also significantly enhances our power transmission portfolio, in particular our industrial powertrain offering, by adding complementary products in brakes, gears, and clutches, while extending the number of end markets in which we actively participate.”
