Rexnord Corporation Announces Pricing of Public Offering of Common Stock

  Rexnord Corporation Announces Pricing of Public Offering of Common Stock

Business Wire

MILWAUKEE -- January 31, 2014

Rexnord Corporation (NYSE:RXN)(“Rexnord”) announced today the pricing of the
previously announced public offering of its common stock. Rexnord will issue
and sell 3,000,000 shares of its common stock and certain funds affiliated
with Apollo Global Management, LLC (collectively with its subsidiaries,
“Apollo”) (NYSE:APO) and George M. Sherman, Chairman of the Board of Directors
of Rexnord, and certain of his affiliates (together with Apollo, the “Selling
Stockholders”), will sell 12,000,000 shares of Rexnord common stock at a price
to the public of $25.75 per share. The Selling Stockholders have also granted
to the underwriters of the common stock offering an option to purchase up to
an additional 2,250,000 shares of common stock. Rexnord intends to use the net
proceeds from the sale of shares by it in the offering for general corporate
purposes. Rexnord will not receive any proceeds from the sale of the shares by
the Selling Stockholders in the offering. The offering is expected to close on
or about February 5, 2014, subject to certain customary closing conditions.

The offering is being made under Rexnord’s registration statement as filed
with the Securities and Exchange Commission. Goldman, Sachs & Co., Baird and
Credit Suisse are bookrunners for the offering, BofA Merrill Lynch, Barclays,
BMO Capital Markets and Deutsche Bank Securities are also bookrunners and
Apollo Global Securities is the co-manager.

This press release does not constitute an offer to sell or a solicitation of
an offer to buy these securities, nor does it constitute an offer,
solicitation or sale of these securities in any jurisdiction in which such
offer, solicitation or sale is unlawful. The offering may be made only by
means of a prospectus and a related prospectus supplement, copies of which may
be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West
Street, New York, New York 10282, (866) 471-2526, Robert W. Baird & Co.
Incorporated, Attn: Syndicate Department, 777 East Wisconsin Avenue,
Milwaukee, Wisconsin 53202, (800) 792-2473, or Credit Suisse Securities (USA)
LLC, Attn: Prospectus Department, One Madison Avenue, New York, New York
10010-3629, (800) 221-1037.

About Rexnord

Headquartered in Milwaukee, Wisconsin, Rexnord is comprised of two strategic
platforms, Process & Motion Control and Water Management, with approximately
7,500 employees worldwide. The Process & Motion Control platform designs,
manufactures, markets and services specified, highly-engineered mechanical
components used within complex systems. The Water Management platform designs,
procures, manufactures and markets products that provide and enhance water
quality, safety, flow control and conservation.

Cautionary Statement on Forward-Looking Statements

Information in this release may involve outlook, expectations, beliefs, plans,
intentions, strategies or other statements regarding the future, which are
forward-looking statements. These forward-looking statements involve risks and
uncertainties. All forward-looking statements included in this release are
based upon information available to Rexnord Corporation as of the date of the
release, and Rexnord Corporation assumes no obligation to update any such
forward-looking statements. The statements in this release are not guarantees
of future performance, and actual results could differ materially from current
expectations. Numerous factors could cause or contribute to such differences.
Please refer to "Risk Factors" and "Cautionary Notice Regarding
Forward-Looking Statements" in the Company's Form 10-K for the fiscal year
ended March 31, 2013 as well as the Company's annual, quarterly and current
reports filed on Forms 10-K, 10-Q and 8-K from time to time with the
Securities and Exchange Commission for a further discussion of the factors and
risks associated with the business.

Contact:

Rexnord Corporation
Mark Peterson
Senior Vice President and Chief Financial Officer
414.643.3739
 
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