WEG acquires industrial electric motors and generators business from Regal Rexnord
Torys acted as Canadian counsel to WEG with a team that included (Ricco) A.S. Bhasin, Tia Eisner and Kirsten Hentschel (corporate/M&A), Tom Stevenson and Sarah Fallis (employment), Dennis Mahony and Emily Stewart (environmental), Ed Fan (IP), Graham Rawlinson and Aren Thomasian (real estate), Molly Reynolds and William Walters (privacy) and Craig Maurice (tax).
On September 25, 2023, WEG S.A. announced that through its indirect subsidiaries abroad (together “WEG”), it entered into a definitive agreement to acquire the industrial electric motors and generators businesses of Regal Rexnord Corporation (“Regal Rexnord”), for total consideration of US $400 million.
The transaction focused on the industrial electric motors and generators businesses of the Marathon, Cemp, and Rotor brands, which comprise the majority of the Industrial Systems operational segment of Regal Rexnord.
Closing of the transaction was announced on April 30, 2024.
As part of the acquisition, WEG will integrate a team of approximately 2,800 employees operating in 10 factories located in seven countries (United States, Mexico, China, India, Italy, the Netherlands, and Canada), as well as commercial subsidiaries in 11 countries.
Further information can be found on PR Newswire’s website and on weg.net.
WEG is a global electro-electronic equipment company, operating in the capital goods sector with focus on electric motors, gearboxes, drives and controls, energy generation and transformers, electrification products and systems, automation and digitalization.
Regal Rexnord is a global leader in the engineering and manufacturing of factory automation sub-systems, industrial powertrain solutions, automation and mechanical power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems.