Sidley is representing Regal Rexnord Corporation in its US$4.95 billion acquisition of Altra Industrial Motion Corp. The acquisition provides for Regal Rexnord to acquire 100% of Altra shares in an all cash transaction for US$62.00 per share. Altra is a global designer and manufacturer of a wide range of highly engineered motion control, automation, and power transmission solutions. The transaction expands Regal Rexnord's portfolio, customer reach, and product diversity, while enabling the creation of shareholder value through enhanced growth and substantial cost synergies.
The Sidley team is being led by Scott Williams and Chris Hale (M&A and Private Equity), with Suresh Advani and Rachel Kleinberg (Tax) leading tax. As a part of the transaction, Regal Rexnord secured a commitment letter for a US$5.5 billion bridge facility, with Kelly Dybala (Global Finance) and Johnny Skumpija (Capital Markets) leading the financing efforts.
Other team members include Jessica Day, Dusty Page, André Rouillard, and Cameron Woolley (M&A and Private Equity); Nate Enfield (Tax); Sean Damm, Alejandro Ruiz, and Shneur Wolvovsky (Global Finance); Corey Perry, Lauren Gallagher, Peter McCorkell, Lizzy Burns, Alex Down, Amanda Casanueva, Alexa Peterson, and Caitlin Haggerty (trainee solicitor) (Employee Benefits and Executive Compensation); Jim Weiss, Natalie Chan, and Katie Sreenan (Labor and Employment); Heather Palmer and Sarah Jehl (Environmental); Tim Kapshandy (Products Liability); Bill Blumenthal, Jamie Sadler, Vincent Brophy, Rosanna Connolly, and Ben Falkenberg (Antitrust/Competition); Leslie Shubert and Allison Dapper (FCPA/Anti-Corruption); Kristen Knapp (Trade Compliance); Mark Kaufmann, Kyle Barnett, and Tomide Owolabi (Technology Transactions); and Liz McCloy and Will Otter (Real Estate).
Sidley also represented Regal Rexnord in 2021, in connection with its innovative Reverse Morris trust transaction pursuant to which Regal acquired the PMC business of Zurn Elkay water solutions.