Timken, Altra and Regal 'eyeing Emerson business'

Resource from: drivesncontrols.com Likes:302

Oct 21,2014

Several potential purchasers, including Regal Beloit, Timken and Altra Industrial Motion, have shown an interest in acquiring Emerson Electric’s mechanical power transmission business, according to a report from the Reuters news agency. Citing “people familiar with the matter”, the report says that private equity firms including Warburg Pincus and Onex are also interested in the business, which could be sold for $1.2–1.6bn. Emerson announced earlier this year that it was evaluating alternatives for its US-based power transmission business which employs more than 3,000 people worldwide and achieved revenues of more than $300m in 2013. The business – part of Emerson’s industrial automation division – designs and produces couplings, bearings, conveying components, gears, drive components and supporting services. Its brands include Browning, Jaure, Kop-Flex, McGill, Morse, Rollway, SealMaster and System Plast. According to the Reuters report, Regal Beloit, Timken and Altra are through to the second round of bidding for the Emerson business. The operation is expected to be divested before the end of the year.

(drivesncontrols.com)

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