RBS Global, the parent company of the Rexnord Corp., of Milwaukee, said Oct 11 it has entered into an agreement with an affiliate of Apollo Management that will see it acquiring Jacuzzi Brands'' plumbing products business, Zurn, for approximately $950 million in cash. The deal is expected to be consummated sometime during the first quarter of 2007.

"We look forward to working with Al Marini, current president and CEO of Jacuzzi Brands, and the entire Zurn team to continue their successful track record of financial performance," said Rexnord chairman George Sherman. "We believe this acquisition will enhance Rexnord''s already strong growth potential as a multi-industry company."

Rexnord manufactures power transmission, aerospace and other engineered motion technology products.