Milwaukee-based Rexnord Corp. has acquired Twinsburg, Ohio-based Precision Gear Holdings LLC.
Merit Gear LLC in Antigo is an operating subsidiary of Precision Gear. Its other subsidiary is Precision Gear LLC in Twinsburg. The company has 190 employees and annual net sales of about $45 million.
Merit Gear manufactures high-quality gearing and specialized gearboxes, which mainly serve the North American oil and gas industry. They are also used for industrial applications.
“Merit’s capabilities and offering are highly complementary to our core Falk product line,” said Dean Vlasak, Rexnord vice president, innovation and energy. “This acquisition presents the opportunity to enhance the value and breadth of solutions we can bring to Rexnord and Merit customers. Moreover, Merit strengthens Rexnord’s presence in key oil and gas markets and brings strong relationships with leading OEMs and drillers.”
Precision gear manufactures high precision gears for the aerospace and industrial markets.
“Precision Gear represents ongoing strategic investment into Rexnord’s aerospace product portfolio within its process and motion control platform,” said Darryl Mayhorn, president, Rexnord aerospace. “We are excited with this expansion of our aerospace gear manufacturing capabilities as well as the additional products and services the Precision team brings to better serve our existing customers.”
Rexnord, which makes process and motion control and water management products, has about 7,300 employees globally.