Altra Holdings to acquire Bauer Gearmotor business
Acquisition of leading gearmotor manufacturer expands Altra’s scale in Europe and enhances geographic presence
ALTRA Holdings Inc. have signed an agreement to acquire the assets of Danfoss Bauer GmbH’s gearmotor business for a cash consideration of €43.1 million. Completion of the deal is expected to take place during the second quarter of 2011, subject to customary regulatory approvals.
Bauer are a leading European manufacturer of high-quality gearmotors, offering engineered solutions to a wide range of industries. In addition to a strong presence in Germany, the company has a well-established sales network in 15 additional countries in Western and Eastern Europe, Russia, China and the US.
A privately held company headquartered in Esslingen, Germany, Bauer generated approximately €73.4 million in revenue for 2010. The acquisition is expected to be accretive to Altra Holdings’ earnings in 2011, excluding any one-off or acquisition-related costs.
Describing the agreement as an exciting and important milestone for Altra, Carl Christenson, Altra’s president and CEO, said: ‘The acquisition of Bauer meets all of our acquisition criteria and we are looking forward to Bauer becoming an important part of Altra.
‘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. In addition, the Bauer management team is very strong with a solid top- and bottom-line growth strategy that dovetails very nicely with Altra’s strategy.
‘We are particularly excited about Bauer’s European and emerging market presence, and Altra’s ability to provide Bauer with additional access to the North American market.’
ALTRA Holdings Inc. have signed an agreement to acquire the assets of Danfoss Bauer GmbH’s gearmotor business for a cash consideration of €43.1 million. Completion of the deal is expected to take place during the second quarter of 2011, subject to customary regulatory approvals.
Bauer are a leading European manufacturer of high-quality gearmotors, offering engineered solutions to a wide range of industries. In addition to a strong presence in Germany, the company has a well-established sales network in 15 additional countries in Western and Eastern Europe, Russia, China and the US.
A privately held company headquartered in Esslingen, Germany, Bauer generated approximately €73.4 million in revenue for 2010. The acquisition is expected to be accretive to Altra Holdings’ earnings in 2011, excluding any one-off or acquisition-related costs.
Describing the agreement as an exciting and important milestone for Altra, Carl Christenson, Altra’s president and CEO, said: ‘The acquisition of Bauer meets all of our acquisition criteria and we are looking forward to Bauer becoming an important part of Altra.
‘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. In addition, the Bauer management team is very strong with a solid top- and bottom-line growth strategy that dovetails very nicely with Altra’s strategy.
‘We are particularly excited about Bauer’s European and emerging market presence, and Altra’s ability to provide Bauer with additional access to the North American market.’
