Posted to News on 4th Jul 2014, 10:40
Altra Industrial Motion acquires Guardian Industries Inc.
Altra Industrial Motion Corp. is announcing the acquisition of Guardian Industries, Inc. The acquisition of Guardian is expected to be accretive to earnings in the range of $0.01 to $0.02 per share, excluding any one-time or acquisition related costs, during the 2014 fiscal year. The company has a dedicated workforce of 47 people and had 2013 revenues of $10 million.
Carl Christenson, Altra's Chairman and CEO, says: "The Guardian products complement Altra's broad-based offering of couplings and will help us to better serve both off-highway and general industrial applications. This bolt-on acquisition will expand Guardian's geographic reach and provide the company with increased coverage in several core Altra markets, including energy, farm & ag and specialty machinery. We are pleased to welcome Guardian to the Altra family."
Founded in 1941 and based in Michigan City, Ind., Guardian is a niche supplier of flywheel, motion control and general industrial couplings. For further details about the acquisition of Guardian Industries, Inc by Altra, please visit www.altramotion.com.
