Nicotra Gebhardt bought by US motor firm
USA/ITALY: US electric motor company Regal Beloit is set to acquire Italian fan manufacturer Nicotra Gebhardt in a deal worth €125m.
Nicotra Gebhardt (NG) was formed in 2005 from Nicotra’s purchase of German company GebhardtVentilatoren. Both companies can trace their history back 60 years.
“NG’s products will add to Regal’s growing lineup of energy efficient, air moving systems,” said Regal chairman and CEO Mark Gliebe. “This will be a strategic acquisition for Regal as we continue to expand our energy efficiency system solutions for customers.”
NG has annual revenues of approximately $150m and over 750 employees around the world. Regal management estimates that the acquisition will be accretive in 2018 excluding purchase accounting adjustments and closing costs.
Industrial fan company Industrie CBI SpA, which Gebhardt acquired in 2013, was not included in the deal.