On the Record · Altra Industrial Motion
Altra Industrial Motion acquisitions, on the record
The businesses Altra Industrial Motion bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Colfax acquisition of the MPT (mechanical power transmission) group of Zurn Technologies, Inc.Word for word“Although Altra was incorporated in Delaware in 2004, much of our current business has its roots with the prior acquisition by Colfax Corporation, or Colfax, of the MPT (mechanical power transmission) group of Zurn Technologies, Inc. in December 1996.” 10-K for 2020 | acquisition | December 1996 | — |
Kilian Manufacturing Corporation from Timken U.S. CorporationWord for word“On October 22, 2004, The Kilian Company, or Kilian, a company formed at the direction of Genstar Capital, then the largest stockholder of Altra, acquired Kilian Manufacturing Corporation from Timken U.S. Corporation.” 10-K for 2020 | acquisition | October 22, 2004 | — |
A&S Business (Kollmorgen, Portescap, Thomson and Jacobs Vehicle Systems) from FortiveWord for word“On October 1, 2018, Altra consummated the Fortive Transaction and acquired the A&S Business for an aggregate purchase price of approximately $2,855.7 million, subject to certain post-closing adjustments, which consisted of $1,400.0 million of cash and debt instruments transferred to Fortive and shares of Altra common stock received by Fortive shareholders valued at approximately $1,455.7 million.” 10-K for 2020 | agreed acquisition | October 1, 2018 | approximately $2,855.7 million |
Stromag (Stromag Acquisition)Word for word“The October 2016 Amendment, which became effective upon the December 30, 2016 closing of the Stromag Acquisition increased the 2015 Revolving Credit Facility by $75 million to $425 million.” 10-K for 2020 | acquisition | December 30, 2016 | — |
Aluminum Die CastingWord for word“Acquisition of Aluminum Die Casting, net of cash acquired — — ( 2.7 ) Acquisition of A&S Business, net of cash acquired — — ( 949.2 ) A&S Business acquisition purchase price adjustment ( 1.9 ) ( 29.5 ) — Net cash provided by (used in) investing activities 15.6 ( 80.9 ) ( 989.4 ) Cash flows from financing activities Payments of debt issuance costs — — ( 29.9 ) Payments on Term Loan Facility ( 160.0 ) ( 130.0 ) ( 20.0 ) Payments on Revolving Credit Facility ( 100.0 ) — ( 281.6 ) Borrowing under Term Loan Facility — — 1,336.7 Borrowing under Revolving Credit Facility 100.0 — 19.0 Dividend payments ( 27.8 ) ( 44.4 ) ( 20.0 ) Payments of equipment, working capital notes, mortgages and other debt ( 1.5 ) ( 1.1 ) ( 0.9 ) Proceeds from equipment, working capital notes, mortgages and other debt — 1.6 — Shares surrendered for tax withholding ( 3.9 ) ( 4.0 ) ( 3.1 ) Settlement of cross currency swap — — ( 14.0 ) Net cash provided by (used in) by financing activities ( 193.2 ) ( 177.9 ) 986.2 Effect of exchange rate changes on cash and cash equivalents 2.2 1.2 3.9 Net change in cash and cash equivalents 87.1 ( 1.7 ) 117.0 Cash and cash equivalents at beginning of year 167.3 169.0 52.0 Cash and cash equivalents at end of year $ 254.4 $ 167.3 $ 169.0 Cash paid during the year for: Interest paid on borrowings $ 58.1 $ 68.8 $ 21.2 Income taxes paid 61.7 45.4 34.1 Non-cash Financing and Investing: Acquisition of property, plant and equipment included in accounts payable $ 4.3 $ 3.9 $ 3.4 Fair value of common stock and restricted stock issued for acquisition of business — — 1,458.7 The accompanying notes are an integral part of these consolidated financial statements 49 ALTRA INDUSTRIAL MOTION CORP.” 10-K for 2020 | acquisition | — | — |
Nook Industries, LLCWord for word“On December 31, 2021, we acquired all of the issued and outstanding equity interests of Nook Industries, LLC (“Nook”), a leader in the U.S. engineered linear motion industry.” 10-K for 2021 | acquisition | On December 31, 2021 | — |
Jacobs Vehicle Systems (“JVS”) business segmentWord for word“On February 8, 2022, we entered into an agreement (the “Purchase Agreement”) with Cummins Inc. (“Cummins”), a leader in the heavy-duty trucking industry, to divest all of our issued and outstanding equity interest in our entities which collectively constitute the Jacobs Vehicle Systems (“JVS”) business segment (the “JVS Transaction”).” 10-K for 2021 | agreed divestiture | On February 8, 2022 | — |
A&S Business (Stevens Holding Company, Inc. and related non-U.S. entities)Word for word“The aggregate purchase price for the A&S Business of approximately $2,855.7 million, subject to certain post-closing adjustments, consisted of $1,400.0 million of cash and debt instruments transferred to Fortive and shares of Altra common stock received by Fortive shareholders valued at approximately $1,455.7 million.” 10-K for 2021 | merger | — | approximately $2,855.7 million |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Cash received from selling businesses | Goodwill from acquisitions |
|---|---|---|---|
| 2016-12-31 | $188 million | — | $93.1 million |
| 2017-12-31 | −$2.9 million | — | — |
| 2021-12-31 | — | — | $55.6 million |
| 2022-12-31 | — | $321.7 million | — |
Deal filings since 2016
- 2023-03-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-03-27 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2023-02-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-10-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-04-14 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2022-02-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-01-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2021-11-19 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-10-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-10-01 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2018-03-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-03-15 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2017-01-05 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
Read from Altra Industrial Motion’s annual reports (10-K for 2022, 10-K for 2021, 10-K for 2020) and the financial data it files with the SEC, as of 2023-03-01. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.