Rexnord Spins Off PMC Business Before Merger

Prior to the merger, Rexnord Corporation completed a spin-off of its Process & Motion Control business into a new entity, Land Newco, Inc., via a pro rata dividend to Rexnord stockholders. Following the spin-off, Land merged with Regal Beloit, and Rexnord changed its name to Zurn Water Solutions Corporation.

“Under the terms of the transaction, Rexnord Corporation completed a spin-off of PMC by way of a pro rata dividend of all of the outstanding common stock of Rexnord's then-wholly owned subsidiary, Land Newco, Inc. (“Land”), the owner of PMC, to Rexnord stockholders as of the record date for the dividend.”

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