Regal Beloit To Buy Nicotra Gebhardt For About $154 Mln

(RTTNews) - Regal Beloit Corp. (RBC) said that it agreed to acquire Nicotra Gebhardt S.p.A. or NG for approximately 125 million euros or $154 million.

Regal estimates that the acquisition will be accretive in 2018 excluding purchase accounting adjustments and closing costs. The business of Industrie CBI S.p.A. was not included in the scope of this transaction.

The transaction, which is subject to customary closing conditions, is expected to close by the end of the second quarter of 2018. Shareholder approvals are not required to complete the transaction.

Nicotra Gebhardt manufactures, sells and services fans and blowers under the industry leading brand of Nicotra Gebhardt. With annual revenues of approximately $150 million, NG has over 750 employees around the world.