Emerson To Sell Network Power; Also To Sell Leroy-Somer, Control Technique Units

(RTTNews) - Emerson (EMR) announced an agreement to sell Network Power to Platinum Equity and a group of co-investors in a deal valued at $4 billion. Emerson will retain a subordinated interest in Network Power. Network Power, based in Columbus, Ohio is a provider of thermal management, A/C and D/C power, transfer switches, services and information management systems for the data center and telecommunications industries.

Separately, Amerson announced it has agreed to sell its Leroy-Somer and Control Techniques business units to Nidec Corporation. The transaction is valued at $1.2 billion. Leroy-Somer and Control Techniques have been leading manufacturers and suppliers of alternators, drives, and motors, with approximately 9,500 employees around the world.