Altra Industrial Motion acquires Guardian Industries
The power transmission manufacturer Altra Industrial Motion has announced the acquisition of Guardian Industries, Inc. The acquisition is expected to be accretive to earnings in the range of $0.01 to $0.02 per share, excluding any one-time or acquisition related costs, during the 2014 fiscal year. The company has a dedicated workforce of 47 people and had 2013 revenues of $10 million.
"The Guardian products complement Altra's broad-based offering of couplings and will help us to better serve both off-highway and general industrial applications," said Carl Christenson, Altra's Chairman and CEO. "This bolt-on acquisition will expand Guardian's geographic reach and provide the company with increased coverage in several core Altra markets, including energy, farm & ag and specialty machinery. We are pleased to welcome Guardian to the Altra family."
Founded in 1941 and based in Michigan City, Ind., Guardian is a leading niche supplier of flywheel, motion control and general industrial couplings.
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