The acquisition cost comprised the assumption of debt totalling approximately €14million and a cash consideration of approximately €184million and is subject to normal adjustments related to working capital and other reconciling items.
“Stromag provides Altra with complementary products, increased presence in key geographic regions and penetration into new growth end markets,” said Carl Christenson, chairman and CEO of Altra. “It has a strong reputation, and its highly engineered clutches, brakes, torsional couplings and limit switches serve as excellent product extensions for Altra.”
