MILWAUKEE — Milwaukee-based Rexnord Corp. has completed the acquisition of the Falk Corp. from Hamilton Sundstrand, a subsidiary of United Technologies Corp. for $295 million.
Rexnord is a worldwide manufacturer of mechanical power transmission components with revenues of approximately $800 million and 4,800 employees located at more than 30 manufacturing facilities worldwide. Falk Corp., also headquartered in Milwaukee, is a manufacturer of gears and couplings, with annual revenues of approximately $200 million.
Commenting on the acquisition, Robert Hitt, Rexnord CEO, said, “The merger with Falk represents an important step forward for Rexnord, significantly enhancing our capabilities in the power transmission industry.”
“We see this merger as a real win for the Falk Corporation,” said Dave Doerr, Falk president. “By joining forces with Rexnord, we see an excellent opportunity to expand our business. Together, we will make the future of this new enterprise even brighter than the past.”