NEW YORK, February 16, 2021: Morgan Lewis is representing Rexnord Corp. in a definitive agreement with Regal Beloit Corp. under which Rexnord will separate its Process & Motion Control (PMC) segment by way of a tax-free spin-off to Rexnord shareholders and then combine it with Regal in a Reverse Morris Trust (RMT) transaction. With the addition of PMC, Regal’s 2020 pro forma revenue was approximately $4.1 billion.
Rexnord, headquartered in Wisconsin, is composed of two strategic platforms: PMC and Water Management. The PMC platform designs, manufactures, markets, and services specified, highly engineered mechanical components used within complex systems. Rexnord’s Water Management platform—which designs, procures, manufactures, and markets products that provide and enhance water quality, safety, flow control, and conservation—will continue to operate as a public company.
Regal is a global company delivering engineering and manufacturing of electric motors and controls, power generation, and power transmission products.
Morgan Lewis partners Alec Dawson, Andrew Milano, and Allison Gargano, of counsel Etienne Shanon, and associates Samuel Worth, Raphaelle Debenedetti, and Danby Kim advised Rexnord.