Carl Christenson News

Manufacturer and marketer of electromechanical power transmission and motion control products Altra Industrial Motion Corp. said it has closed its acquisition of the Stromag business from GKN plc. “Stromag provides Altra with complementary products, increased presence in key geographic regions and penetration into new growth end markets,” said Carl Christenson, Chairman and CEO of Altra. Stromag generated approximately 131 million euros in revenue in 2015, and the acquisition is anticipated to be accretive to Altra’s earnings in 2017, excluding any one-time or acquisition-related costs. The acquisition cost comprised the assumption of…

Altra Industrial Motion Corp. announced that it has closed on the acquisition of Svendborg Brakes A/S and S.B. Patent Holding ApS, the global manufacturer of caliper brakes. Headquartered in Vejstrup, Denmark, Svendborg provides engineered braking systems for a wide range of industrial markets including oil and gas, mining, wind power, marine, metals, material handling and others. “Svendborg is a leading brand that provides Altra with new technology and access to a number of new geographic regions,” said Carl Christenson, Altra's president and CEO. Svendborg joins Wichita Clutch, Industrial Clutch, Twiflex Limited, Formsprag Clutch, Marland Clutch and Stieber Clutch…