A. O. Smith Corporation acquires MagneTek Motors and Controls Division

A. O. Smith Corporation acquired MagneTek Motors and Controls Division for approximately $250 million in cash (subject to adjustment), a transaction completed in August 1999, structured as all cash. The deal was a Asset purchase.

MagneTek Motors and Controls Division operates in Electric Motor Technologies, is based in United States (with U.K. operations). A. O. Smith acquired substantially all of the assets of MagneTek, Inc.'s Motors and Controls Division — a business developing, manufacturing and selling fractional, integral and DC electric motors — under an Asset Purchase Agreement dated June 28, 1999, significantly enlarging A. O. Smith's electric-motor operations. (The electric-motor business was later sold to Regal Beloit in 2011.)

Scale expansion of A. O. Smith's electric-motor product lines and market position.

Advisory firms were not disclosed for this transaction.

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