We represent NN, Inc. (NASDAQ: NNBR) in the sale of its Precision Bearing Components Group to Tsubaki Nakashima Co., Ltd. (TYO: 6464) for $375 million. The transaction is expected to close in the second half of 2017, and is subject to regulatory approval and customary closing conditions. NN plans to redeploy the net proceeds from the transaction into higher-growth, higher-margin end markets, while also accelerating its focus on deleveraging.
Bass, Berry & Sims PLC is primary corporate and securities counsel for NN, Inc. and serves as lead counsel on the transaction. SunTrust Robinson Humphrey is serving as financial advisor on the transaction.
NN, Inc. is a diversified industrial company that combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Johnson City, Tennessee, NN has 40 manufacturing plants in North America, Western Europe, Eastern Europe, South America and China.