Altra Industrial Motion Corp. announced the completion of Altra’s combination with four operating companies from Fortive’s Automation & Specialty platform (“Fortive A&S”), including brands Kollmorgen, Thomson, Portescap and Jacobs Vehicle Systems.
According to Altra, this move helps to strengthen its positions in the precision motion control market and the higher end of the technology spectrum, increased exposure to higher growth, higher margin end-markets and an enhanced financial profile.
The company’s combined product portfolio will provide expanded single-source convenience and experience in a wide range of industries including, medical, robotics, aerospace, electronics, metals, food & beverage, material handling, transportation, off-highway, mining, oil & gas, metals and factory automation.
“We are pleased to complete this combination and move forward as a premier industrial company with leading positions across key markets,” said Carl Christenson, chairman and CEO of Altra. “In addition to our foundational power transmission businesses, we can now provide our customers with a broader suite of products and solutions, including sophisticated precision motors, drives and controls; engineered linear motion systems; miniature motors; and a leading portfolio of braking technologies. We are excited about the opportunities we see to drive innovation and deliver enhanced value for customers and stockholders alike.”
Altra is an industrial manufacturer of highly engineered power transmission, motion control and engine braking systems and components. Altra's portfolio consists of 27 brands including, Bauer Gear Motor, Boston Gear, Jacobs Vehicle Systems, Kollmorgen, Portescap, Stromag, Svendborg Brakes, TB Wood's, Thomson and Warner Electric. Headquartered in Braintree, Massachusetts, Altra has approximately 9,300 employees and more than 50 production facilities in 16 countries around the world.