Here's the Deal
 

Baird's Investment Banking Group is pleased to announce the following transaction:

February 2012


Milwaukee Gear Company
Sale to Regal Beloit Corporation


Baird served as the exclusive financial advisor to Milwaukee Gear.


Milwaukee Gear Company (“Milwaukee Gear” or the “Company”), a portfolio company of High Road Capital Partners (“High Road”) and Charter Oak Equity (“Charter Oak”) has been acquired by Regal Beloit Corporation (“Regal Beloit”) (NYSE:RBC).

Milwaukee Gear is a leading manufacturer of highly engineered gearing components and systems primarily serving the oil and gas hydraulic fracturing and industrial / commercial HVAC and refrigeration markets, with products also manufactured for the general industrial, mining, transportation, food processing, construction, agricultural, marine, plastics and wind end markets. The Company also operates Treat All Metals, an in-house heat treat business critical to the production of Milwaukee Gear’s products, as well as external customers’ products. Milwaukee Gear specializes in custom, small batch, high precision spur and helical gears, gearboxes and pinions. Milwaukee Gear was founded in 1918 and is based in Milwaukee, Wisconsin.

High Road Capital Partners is a private equity firm focused on buying and building leading companies at the smaller end of the middle market. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. High Road was formed in 2007 and currently manages over $150 million of committed capital.

Charter Oak and its predecessor funds have been investing in private equity since 1992. The firm invests in companies with $20 to $200 million in revenues and $5 to $20 million in EBITDA, with a particular interest in packaging, niche manufacturing, specialty chemicals and medical device companies. Milwaukee Gear is Charter Oak’s first exit as an independent sponsor.

Regal Beloit Corporation is a leading manufacturer of electric motors, mechanical and electrical motion controls and power generation products serving markets throughout the world. Regal Beloit is headquartered in Beloit, Wisconsin, and has manufacturing, sales, and service facilities throughout the United States, Canada, Mexico, Europe and Asia. Regal Beloit’s common stock is a component of the S&P Mid Cap 400 Index and the Russell 2000 Index.

For additional information about this transaction, please contact:
Managing Director
(414) 298-7644

Managing Director
(312) 609-4913

Managing Director
+ 49 (69) 130 149-49
Vice President
(414) 298-7411

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