Regal Beloit agrees to sell Mastergear business to Rotork plc

Regal Beloit has signed a contract to sell its non-core Mastergear business to Rotork plc for $25 million. The deal is expected to close in the second quarter of 2016 and will result in a $0.03 decrease to 2016 EPS.

“Contract to sell Mastergear to Rotork plc > Sale price of $25 million > Signed April 28th – Expected to close 2Q > Sells valve gearboxes into industrial markets > Annual revenues of $22 million > $0.03 decrease to 2016 EPS (not included in prior 2016 guidance)”

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