Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Nook Industries, Inc sells family business to Altra Industrial Motion Corp.

Altra Industrial Motion
Nook Industries, Inc sells family business to Altra Industrial Motion Corp.

Nook Industries, Inc sells family business to Altra Industrial Motion Corp.

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.

Related Articles

Related Whitepapers

True-turbine Design Enhances Energy Recovery and CO2 Reduction

In the oil and gas industry, hydraulic power recovery turbines (HPRTs) capture energy in hydrocrackers that would otherwise be wasted to efficiently drive a charge…

5 Steps for Reliable Packing Performance

These guidelines will help extend packing life and reduce downtime. No shortcuts should be taken if a plant wants to achieve reliable compression packing performance.…

Pressure Testing of DFT® Check Valves [Infographic]

All DFT Check Valves undergo rigorous tests to ensure they meet industry quality requirements. Check out this handy infographic to learn about their diligent testing.

Bearing Protection Best Practices

Electro Static Technology (EST, AEGIS®) guarantees that AC induction motor bearings will not fail from electrical fluting damage when AEGIS Shaft Grounding Rings have been…

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Join the #PumpTalk Community


By submitting this form, you are consenting to receive marketing emails from: Empowering Pumps & Equipment, 2205-C 7th Street, Tuscaloosa, AL, 35401, http://www.empoweringpumps.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact