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 common stock at a price of $25.50 per share, generating gross proceeds of approximately $440 million for the selling stockholders. All of the shares offered were sold by selling stockholders. The Company will not receive any proceeds from the sale of shares in the offering.Rexnord is comprised of two strategic platforms, Process & Motion Control and Water Management, with approximately 7,400 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
- June 2014
- Company
- Rexnord Corporation
- Transaction
- M&A
- Sectors
- Industrial
- Target Location
- North America
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