April 7, 2010 (FinancialWire) — Regal Beloit Corp. (NYSE: RBC) said it has acquired CMG Engineering Group Pty. Ltd.

Australia-based CMG manufactures and distributes fractional horse power industrial motors, blower systems, and industrial metal products. The firm has operations in Australia, New Zealand, South Africa, Malaysia, Singapore, the United Kingdom, and the Middle East.

Also included is CMG's Technology center and certified motor and drive testing facilities located in Australia. The business also distributes integral horsepower industrial motors, mechanical power transmission products, material handling equipment, electrical insulating materials, magnet wire, and specialty conductors in Australia and New Zealand.

According to Regal Beloit, the purchase price was around $75.0 million in cash, the assumption of approximately $5.5 million in net liabilities and one hundred thousand shares of Regal Beloit common stock. 

The business is expected to add around $92.0 million to sales and add $.04 to diluted earnings per share in 2010, according to Regal Beloit. The company's guidance includes the estimated impact of transaction costs, purchase accounting and intangible amortization based on the preliminary purchase price allocation. Wisconsin-based Regal Beloit is a manufacturer of mechanical and electrical motion control and power generation products. The firm has manufacturing, sales, and service facilities throughout the United States, Canada, Mexico, Europe and Asia.

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