In Rexnord we trust. Rexnord is the parent of RBS Global and Rexnord LLC (a holding company for its global industrial operations). It does business through two divisions: process and motion control and water management. Its process and motion control unit makes gears, couplings, bearings, industrial chain, and other highly engineered mechanical components with brand names such as Rex, Falk, and Link-Belt. Water management makes products used in commercial plumbing, water control and treatment, and wastewater markets with names such as Fontaine, Wilkins, and Zurn. Rexnord began trading in 2012 after filing a $700 million IPO the previous year. It is controlled by private equity firm Apollo Global Management.
The company is using the proceeds from its IPO to pay down debt and pay former majority owner Apollo Management for the termination of its management-services agreement. Rexnord first attempted a $400 million IPO in 2006 under the name RBS Global when it was owned by The Carlyle Group. However, the plan was scrubbed after Apollo Management agreed to acquire the company for about $1.8 billion. Another IPO, worth $750 million, was filed in 2008 but was withdrawn about a year later without any shares sold.
Rexnord's sales improved about 12% in fiscal 2011 compared to the previous year. The company was also able to reduce its cost of sales from about 66% of sales to nearly 65% and at the same time grow gross profits by more than 15%. Rexnord's process and motion control segment, which accounts for nearly 70% of sales, saw revenues increase more than 15% due in part to increased domestic demand as well as from emerging economies such as China and India. Although sales from the water management increased by nearly 4%, the segment's income from operations (gross income minus operating expenses and depreciation) was down was nearly 9% lower during the period.
Distributors represent about 50% of the process & motion control sales. End markets include aerospace, air handling, construction, aggregates and cement, chemicals and energy, as well as beverage and container, and forest and wood. Infrastructure construction projects account for about 35% of water management's net sales, with commercial and residential construction representing 30% and 13%, respectively. – less
6 salaries reported
$23.59 per hour
7 salaries reported
$13.96 per hour
6 salaries reported
$20.44 per hour