Altra Industrial Motion Corp. Completes Combination with Fortive’s Automation & Specialty Platform
Altra Industrial Motion Corp. (AIMC)
Last altra industrial motion corp. earnings: 4/30 07:00 am
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US:NASDAQ Investor Relations:
ir.altramotion.com/investor-relations
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Source: GlobeNewswire
BRAINTREE, Mass., Oct. 01, 2018 (GLOBE NEWSWIRE) -- Altra Industrial Motion Corp. (“Altra”) (NASDAQ: AIMC), a global manufacturer and marketer of electromechanical power transmission and motion control products, today announced the completion of Altra’s combination with four operating companies from Fortive’s Automation & Specialty platform (“Fortive A&S”), including market leading brands Kollmorgen, Thomson, Portescap and Jacobs Vehicle Systems. The transaction was valued at approximately $2.9 billion, based on Fortive receiving $1.4 billion of cash proceeds and debt instruments and Fortive stockholders receiving 35 million newly issued shares of Altra common stock. On an LTM basis for the period ending June 30, 2018, the pro forma combined company had revenues of $1.9 billion. With the combination complete, Altra is positioned to drive growth and value creation through its industry-leading positions in the precision motion control market, a stronger position at the higher en
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