Nook Industries, Inc. Sells Family Business to Altra Industrial Motion Corp. (Nasdaq: AIMC), a Leading Global Manufacturer and Supplier of Motion Control, Power Transmission and Automation Products
04 January 2022 - 4:46AM
Nook Industries, Inc. (“Nook” or the “Company”), a leader in US
engineered linear motion products and solutions announced today
that it has sold the family-owned business to Braintree,
Massachusetts based Altra Industrial Motion Corp. (Nasdaq: AIMC), a
leading global manufacturer and supplier of motion control, power
transmission and automation products. The Nook business, which will
be integrated into Altra’s Thomson operating company in its
Automation & Specialty (“A&S”) segment, expands the breadth
of Altra’s linear products offering. Altra was deemed an excellent
strategic fit as the Nook family evaluated potential suitors to
acquire the 52-year-old business founded by Joseph H. Nook Jr. in
1969.
“The Nook family is pleased to have found a
strong strategic buyer with a history of not only preserving, but
also building upon the products, brand equity and core competencies
of their acquisitions. We are excited about the tremendous
opportunities created by joining Altra’s industry leading suite of
motion control products and brands. It was important for us to find
a buyer that would build upon my father’s legacy,” said Joseph H.
Nook III, Nook’s Chief Executive Officer and President. “We also
want to thank the Nook employees, past and present, that helped
build my father’s dream into the Company it is today. Our family
will be forever grateful to the dedicated and hard-working
employees of Nook Industries.”
KeyBanc Capital Markets, Inc. acted as financial advisor to Nook
and Calfee, Halter & Griswold LLP served as legal advisor.
About Nook
Industries
Founded in 1969 by Joseph H. Nook, Jr., Nook provides a
broad-based offering of premium linear motion solutions. Nook
provides clients with proven knowledge and flexibility to design,
engineer, and manufacture premium quality linear motion systems and
solutions for their most challenging applications. Its customers
benefit from a wide range of premium products and services that fit
well into unlimited industries.
About Altra
Industrial Motion
Corp.
Altra is a premier industrial global manufacturer and supplier
of highly engineered motion control, automation, power
transmission, and engine braking systems and components. Altra’s
portfolio consists of 27 well-respected brands including Bauer
Gear
Motor, Boston Gear, Jacobs Vehicle Systems, Kollmorgen,
Portescap, Stromag, Svendborg Brakes, TB Wood’s, Thomson and Warner
Electric. Headquartered in Braintree, Massachusetts, Altra has over
9,000 employees and 48 production facilities in 16 countries around
the world.
CONTACT:
Nook Industries (216) 271-7900
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