Milwaukee-based Rexnord Corp. announced today that it has entered into a definitive agreement to acquire Euroflex Transmissions Private Ltd. Euroflex serves global original equipment manufacturers from its base in Hyderabad, India, and has annual revenues of approximately $16 million. Closing is anticipated this month.
Euroflex is a leading supplier of high performance disc couplings, used in power generation, gas compression and industrial process machinery applications. Founded in 1991, Euroflex has established a reputation for engineering and product quality with a growing base of original equipment manufacturers inside and outside India.
“Rexnord is excited to add highly engineered Euroflex products to our expanding portfolio of power transmission technologies,” said Kevin Zaba, president of Rexnord’s power transmission group. “Euroflex expands our product offering into higher-speed, turbine-driven applications and accelerates our opportunities in the global power generation and energy markets.”
Euroflex supports Rexnord strategies to accelerate growth by adding complementary products to its leading commercial presence and expanding its global reach.
“Combining the applications expertise of Rexnord and Euroflex creates additional value for customers and enables expanded access into current and adjacent markets,” said Sudhanshu Chhabra, Rexnord president and regional executive for India and the Middle East. “While expanding Rexnord’s presence in an important developing economy, Euroflex also adds important lower cost manufacturing capabilities.”
Rexnord also announced on Friday that it has acquired Tollok S.p.A. Based in Ferrara, Italy, Tollok serves a global customer base and has annual revenues of about $21.25 million.
Tollok is a leading supplier of highly engineered shaft locking devices for the power generation and process industries, as well as general industrial applications. Tollok products are used to secure rotating shafts, manage torque transmission and counteract shaft bending and vibration. With more than 20 years of application experience, the company’s product technology and expertise help customers manage process variability and maximize uptime.
“Rexnord is excited to expand our portfolio of power transmission technologies by offering well-regarded Tollok products,” Zaba said. “Tollok is a logical extension of our focus on maximizing uptime and reliability for our industrial customers. We see significant opportunities to accelerate its market penetration in key regional markets.”
Tollok supports Rexnord strategies to accelerate growth by adding complementary products to its leading commercial presence and expanding its global reach. Combining the applications expertise of Rexnord and Tollok, the companies said, will create additional value for customers and enable expanded access into current and adjacent markets.
Rexnord representatives declined to comment further on the acquisitions due to the quiet period in advance of its second quarter fiscal year 2015 earnings call, scheduled for Thursday.