Nook Industries Sells Family Business to Altra Industrial Motion Corp.
<p style="text-align: center;"><img src="/ueditor/php/upload/image/20220104/1641282717593020.png" title="1641282717593020.png" alt="5.png"/></p><p style="text-align: justify;">Nook Industries, Inc. has announced that it has sold the family-owned business to Braintree, Massachusetts based Altra Industrial Motion Corp. The Nook business, which will be integrated into Altra¡¯s Thomson operating company in its Automation & Specialty (¡°A&S¡±) segment, expands the breadth of Altra¡¯s linear products offering. Altra was deemed an excellent strategic fit as the Nook family evaluated potential suitors to acquire the 52-year-old business founded by Joseph H. Nook Jr. in 1969.</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">¡°The Nook family is pleased to have found a strong strategic buyer with a history of not only preserving, but also building upon the products, brand equity and core competencies of their acquisitions. We are excited about the tremendous opportunities created by joining Altra¡¯s industry leading suite of motion control products and brands. It was important for us to find a buyer that would build upon my father¡¯s legacy¡± said Joseph H. Nook III, Nook¡¯s chief executive officer and president. ¡°We also want to thank the Nook employees, past and present, that helped build my father¡¯s dream into the Company it is today. Our family will be forever grateful to the dedicated and hard-working employees of Nook Industries.¡±</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">KeyBanc Capital Markets, Inc. acted as financial advisor to Nook and Calfee, Halter & Griswold LLP served as legal advisor.</p><p><br/></p>
04 Jan,2022
