Braintree's Altra Motion Acquired For $5 Billion

BRAINTREE, MA — Braintree-based Altra Industrial Motion corporation has been acquired by Regal Rexnord Corporation for roughly $5 billion, according to a news release from the company.

The deal will see Altra shareholders receive $62 in cash for each share of Altra common stock.

“The sale of Altra to Regal Rexnord will provide our shareholders with immediate and substantial cash value, as well as a compelling premium, and the Board of Directors has agreed that this transaction is in the best interests of our shareholders”, said Carl Christenson, Chairman and CEO of Altra.

“I am extremely proud of the company we have built and I am excited to announce this new chapter for Altra, knowing that the company will have a great home within the Regal Rexnord organization.”

Altra’s Board of Directors has approved the merger agreement and the transaction is expected to close in the first half of 2023, subject to customary closing conditions, including approval by Altra shareholders and receipt of regulatory approvals.

Upon completion of the transaction, Altra shares will no longer be listed on any public market.

The company is a manufacturer and supplier of motion control, power transmission and automation projects. According to the company, these parts can be used in any machine, process or application that involves motion.