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Altra Holdings Acquires Lamiflex

Altra Holdings Inc. (AIMC) said that its subsidiary, Altra Industrial Motion Netherlands BV, has acquired 85% of privately held Lamiflex do Brasil Equipamentos Industriais Ltda, a premier Brazilian manufacturer of high-speed disc couplings.

Headquartered in Sao Paulo, Lamiflex generated about 12.3 million Reais (about US $6.1 million at current exchange rates) in revenue for 2011.

Altra acquired the business for a cash consideration of 17.4 million Reais (about US $8.6 million at current exchange rates), subject to a post-closing adjustment for net debt.

Altra said the Lamiflex acquisition is part of its plan to acquire assets in key strategic regions which offer significant long-term growth profiles.

The acquisition is anticipated to be accretive to Altra Holdings' earnings in 2012, excluding any one-time or acquisition-related costs.

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