Baldor acquires Canadian bushings manufacturer
Baldor Electric has acquired Poulies Maska, a Canadian manufacturer of V-belt pulleys, sheaves, bushings, couplings and related mechanical power transmission components. The Quebec-based company, founded in 1964, has 180 employees, located mostly in Canada, as well as a new production facility in China. Its sales in 2007 were worth around $33m.
Maska will join Baldor’s power transmission business, expanding the Dodge product portfolio that it acquired from Rockwell Automation in 2006. The image above shows some of Maska`s products.
The deal makes Baldor the North American market-leader for sheaves, bushings and V-belt drive components. It also gives Baldor a second plant in China to support its international growth. Maska’s operating and gross margins significantly exceed Baldor’s margins.
"Over the past five years, the management team at Maska has increased sales and profits by nearly 50%," says Baldor chairman and CEO, John McFarland. "Its two automated and efficient facilities produce a large variety and some of the highest quality products available in the marketplace.
Maska’s sheaves and bushings, he adds, "complement our Dodge line with each having success in different parts of the market."
"It is with great pride that I see the name of Maska alongside those of Baldor, Reliance and Dodge," says Poulies Maska’s president, Yvon Fortier. "In this union I see individual qualities combined to create a stronger force to meet future challenges."
Baldor has funded the acquisition using cash and an existing credit facility. Additional terms have not been disclosed.
