Altra Industrial Motion starts roadshow for $55 million seven-year notes

By Paul A. Harris

St. Louis, Jan. 31 - Altra Industrial Motion Inc. began a roadshow Tuesday for its $55 million offering of seven-year senior notes (Caa1/CCC+), according to an informed source.

The issue is expected to price mid-week during the week of Feb. 6.

Jefferies & Co. has the books for the offering, which is being marketed via Rule 144A with registration rights and via Regulation S.

The notes will come with four years of call protection and will contain a three-year 35% equity clawback.

Proceeds will be used to fund the acquisition of Hay Hall, Ltd., a Birmingham, England-based manufacturer of couplings and clutch brakes.

Altra is a designer, producer and marketer of mechanical power transmission products, with headquarters in Quincy, Mass.

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