Altra Industrial Motion Corp. is announcing the acquisition of Guardian Industries, Inc. The acquisition of Guardian is expected to be accretive to earnings in the range of $0.01 to $0.02 per share, excluding any one-time or acquisition related costs, during the 2014 fiscal year. The company has a dedicated workforce of 47 people and had 2013 revenues of $10 million.
Carl Christenson, Altra's Chairman and CEO, says: "The Guardian products complement Altra's broad-based offering of couplings and will help us to better serve both off-highway and general industrial applications. This bolt-on acquisition will expand Guardian's geographic reach and provide the company with increased coverage in several core Altra markets, including energy, farm & ag and specialty machinery. We are pleased to welcome Guardian to the Altra family."
Founded in 1941 and based in Michigan City, Ind., Guardian is a niche supplier of flywheel, motion control and general industrial couplings. For further details about the acquisition of Guardian Industries, Inc by Altra, please visit www.altramotion.com.
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