Deal Details
Follow-On Offering
Summary
Baird served as an active bookrunner on this offering.
About
Rexnord Corporation (“Rexnord” or the “Company”) (NYSE: RXN) recently completed a follow-on offering of 17,250,000 shares of its common stock at a price of $25.75 per share, generating gross proceeds of approximately $444 million. A total of 3,000,000 shares were sold by the Company, and 14,250,000 shares were sold by selling stockholders, which included Apollo Global Management. The Company expects to use the net proceeds from the sale of primary shares for general corporate purposes. Rexnord will not receive proceeds associated with the shares sold by the selling stockholders.Rexnord is comprised of two strategic platforms, Process & Motion Control and Water Management, with approximately 7,500 employees worldwide. The Process & Motion Control platform designs, manufactures, markets and services specified, highly-engineered mechanical components used within complex systems. The Water Management platform designs, procures, manufactures and markets products that provide and enhance water quality, safety, flow control and conservation. Rexnord is headquartered in Milwaukee, Wisconsin.
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- Date
- January 2014
- Company
- Rexnord Corporation
- Transaction
- M&A
- Sectors
- Industrial
- Target Geography
- North America
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