Apollo Management to acquire Rexnord

MILWAUKEE, 29 May 2006. Apollo Management has signed an agreement to purchase RBS Global Inc., the corporate parent of Rexnord Corporation for $1.825 billion from private equity firm The Carlyle Group and management. Rexnord Corporation is a manufacturer of precision motion technology products. The transaction is expected to close in the third calendar quarter of 2006.

May 29th, 2006

MILWAUKEE, 29 May 2006. Apollo Management has signed an agreement to purchase RBS Global Inc., the corporate parent of Rexnord Corporation for $1.825 billion from private equity firm The Carlyle Group and management. Rexnord Corporation is a manufacturer of precision motion technology products. The transaction is expected to close in the third calendar quarter of 2006.

"Carlyle has been a supportive partner in positioning Rexnord to be a strategic player in the power transmission and aerospace industries and I look forward to working with Apollo to continue our growth trajectory," says George Sherman, non-executive chairman of Rexnord.

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