Sidley Represented Regal Rexnord in Multi-Billion Dollar Acquisition of Altra Industrial Motion
Regal Rexnord Corporation has acquired Altra Industrial Motion Corp for US $4.95 billion in an all-cash transaction of US
Sidley Represented Regal Rexnord in Multi-Billion Dollar Acquisition of Altra Industrial Motion
Regal Rexnord Corporation has acquired Altra Industrial Motion Corp for US $4.95 billion in an all-cash transaction of US $62.00 per share. Sidley, an international law firm, has represented Regal Rexnord Corporation in this acquisition.
The transaction was signed on October 26, 2022, and successfully closed on March 27, 2023.
The transaction involved complex financing arrangements, including a US $5.5 billion bridge commitment, a permanent replacement term loan, and a revolving credit facility. Additionally, Regal Rexnord’s private placement notes were amended. Kelly Dybala and Sean Damm (Global Finance) led Sidley’s team for this aspect of the deal.
The transaction also included a US $4.7 billion Rule 144A/Regulation S offering of Regal Rexnord Senior Notes and a tender offer/consent solicitation for Altra’s US $383 million of Senior Notes. Johnny Skumpija (Capital Markets) led Sidley’s team for this portion of the transaction.
The completion of the transaction also necessitated obtaining regulatory approvals from various jurisdictions worldwide. Sidley was supported by its regulatory team, which was headed by Bill Blumenthal, Vincent Brophy, Rosanna Connolly, Jamie Sadler (Antitrust/Competition), and Alessandra Moroni (Global Arbitration, Trade, and Advocacy).
Scott Williams and Chris Hale led the M&A team at Sidley, with Tax being led by Suresh Advani and Rachel Kleinberg.
The team also comprised Jessica Day, Dusty Page, André Rouillard, and Cameron Woolley (M&A and Private Equity); Nate Enfield (Tax); Alejandro Ruiz, Shneur Wolvovsky, and Alexander Waddell (Global Finance); Kayla West, Chloe Marks, Demetrius Watson, Isabella Russo-Tiesi, and Conner Collins (Capital Markets); 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); Ben Falkenberg, Flor Van Den Hende, Toni Pitesa, and Uvini Edirisinghe (Antitrust/Competition); Leslie Shubert and Allison Dapper (FCPA/Anti-Corruption); Kristen Knapp (Trade Compliance); and Mark Kaufmann, Kyle Barnett, and Tomide Owolabi (Technology Transactions), as well as Liz McCloy and Will Otter (Real Estate).