Altra Holdings Inc. recently announced that it has signed a definitive agreement to acquire the shares of Svendborg Brakes A/S and S.B. Patent Holding ApS for a cash consideration of 80.1 million euros, less the cash remaining on the balance sheet at close, which is payable upon completion of the acquisition. Altra intends to finance the transaction through a combination of European cash and additional borrowings under its credit agreement.

The finalization of the transaction is subject to customary closing conditions, including receipt of required regulatory approvals, and is expected to take place during the fourth quarter of 2013. The acquisition is anticipated to be accretive to Altra Holdings'earnings in 2014 in the range of $0.10 to $0.15 per diluted share, excluding any one-time or acquisition-related costs.

Founded in 1884, Svendborg has a long history of designing and manufacturing hydraulic braking systems. Today, the
company is the leading global manufacturer of premium quality caliper brakes, offering engineered solutions to demanding applications in the mining and energy markets. Svendborg is the No. 1 brand in caliper brakes and has a well-deserved reputation for high quality and superior engineering expertise. A privately held company headquartered in Denmark, Svendborg is anticipated to generate approximately 62 million euros in revenues for 2013.