0001193125-13-284095.txt : 20130708 0001193125-13-284095.hdr.sgml : 20130708 20130708060528 ACCESSION NUMBER: 0001193125-13-284095 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130708 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130708 DATE AS OF CHANGE: 20130708 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GARDNER DENVER INC CENTRAL INDEX KEY: 0000916459 STANDARD INDUSTRIAL CLASSIFICATION: GENERAL INDUSTRIAL MACHINERY & EQUIPMENT [3560] IRS NUMBER: 760419383 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13215 FILM NUMBER: 13956092 BUSINESS ADDRESS: STREET 1: 1500 LIBERTY RIDGE DRIVE, SUITE 3000 CITY: WAYNE STATE: PA ZIP: 19087 BUSINESS PHONE: 6102492000 MAIL ADDRESS: STREET 1: 1500 LIBERTY RIDGE DRIVE, SUITE 3000 CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: GARDNER DENVER MACHINERY INC DATE OF NAME CHANGE: 19931221 8-K 1 d565218d8k.htm FORM 8-K FORM 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 8, 2013

 

 

GARDNER DENVER, INC.

(Exact Name of Registrant as Specified in Charter)

 

 

 

Delaware   1-13215   76-0419383

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

1500 Liberty Ridge Drive, Suite 3000

Wayne, PA

  19087
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: (610) 249-2000

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Section 7 – Regulation FD

 

Item 7.01 Regulation FD Disclosure.

On March 7, 2013, Gardner Denver, Inc., a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Renaissance Parent Corp., a Delaware corporation (“Parent”), and Renaissance Acquisition Corp., a Delaware corporation and a direct wholly owned subsidiary of Parent (“Acquisition Sub”), providing for the merger of Acquisition Sub with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly owned subsidiary of Parent. Parent and Acquisition Sub are beneficially owned by affiliates of Kohlberg Kravis Roberts & Co. L.P. In connection with the Merger, Parent has received commitments for certain debt financing.

The Company is furnishing under Item 7.01 of this Current Report on Form 8-K the information included as Exhibit 99.1. This information is being furnished to potential lenders in connection with Parent’s debt financing activities. This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy securities.

In accordance with general instruction B.2 of Form 8-K, the information contained in Item 7.01 in this Current Report on Form 8-K, including Exhibit 99.1, is to be considered “furnished” pursuant to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act nor shall it be deemed incorporated by reference in any Company filing or report with the Securities and Exchange Commission, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such a filing or report.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

 

99.1    Certain Financial Information


Forward-Looking Information

This Current Report on Form 8-K, including exhibits hereto, is made in reliance upon the safe harbor of the Private Securities Litigation Reform Act of 1995, including, without limitation, the statements made concerning the Company’s intent to consummate Merger with Parent. As a general matter, forward-looking statements are those focused upon anticipated events or trends, expectations, and beliefs relating to matters that are not historical in nature. Such forward-looking statements are subject to uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the control of the Company. Among others, the following uncertainties and other factors could cause actual results to differ from those set forth in the forward-looking statements: (i) the risk that the Merger with Acquisition Sub may not be consummated in a timely manner, if at all; (ii) the risk that the definitive Merger Agreement may be terminated in circumstances that require the Company to pay Parent a termination fee of $103.4 million and/or reimbursement of their expenses of up to $10 million; (iii) risks related to the diversion of management’s attention from the Company’s ongoing business operations; (iv) risks regarding the failure of Parent to obtain the necessary financing to complete the Merger; (v) the effect of the announcement of the Merger on the Company’s business relationships (including, without limitation, customers and suppliers), operating results and business generally; and (vi) risks related to obtaining the requisite consents to the Merger, including, without limitation, the timing (including possible delays) and receipt of regulatory approvals from various domestic and foreign governmental entities (including any conditions, limitations or restrictions placed on these approvals) and the risk that one or more governmental entities may deny approval. Further risks that could cause actual results to differ materially from those matters expressed in or implied by such forward-looking statements are set forth under “Risk Factors” in the Company’s Form 10-K for the fiscal year ended December 31, 2012, and its subsequent quarterly reports on Form 10-Q. The Company does not undertake, and hereby disclaims, any duty to update these forward-looking statements, although its situation and circumstances may change in the future.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: July 8, 2013     GARDNER DENVER, INC.
    By:  

/s/ Brent A. Walters

    Name:   Brent A. Walters
    Title:   Vice President, General Counsel, Chief Compliance Officer and Secretary
EX-99.1 2 d565218dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Certain Financial Information

GARDNER DENVER INC.

Pro Forma Adjusted EBITDA Reconciliation by Segment

Amounts in Millions

 

     For the Year Ended
December 31,
     Historical Twelve
Months Ended March 31,
 
     2012      2013  
     IPG     EPG      IPG     EPG  

Operating income

     134.4        238.3         148.7        207.6   

Depreciation and amortization expense

     44.4        19.3         40.1        19.5   

Less: Net income attributable to noncontrolling interests

     (1.2     —           (1.1     —     

Other income, net

     1.8        1.7         2.0        1.7   
  

 

 

   

 

 

    

 

 

   

 

 

 

EBITDA

     179.5        259.3         189.6        228.7   

Restructuring costs (A)

     14.8        3.9         4.1        2.2   

Acquisition EBITDA

     —          —           —          —     

Non-cash purchase accounting adjustments

     3.4        —           (0.6     —     

Stock-based compensation expense

     2.8        2.6         2.8        2.3   

Other employee termination and certain retirement costs

     1.1        1.3         1.5        1.5   

Foreign currency (gains) / losses

     1.9        1.5         0.9        0.8   

Pension and OPEB adjustment

     0.9        0.8         0.8        0.7   

Sponsor or sponsor affiliates management fees

     —          —           —          —     

Other adjustments

     2.3        0.9         6.1        3.6   
  

 

 

   

 

 

    

 

 

   

 

 

 

Adjusted EBITDA

     206.6        270.3         205.4        240.0   

Future cost savings illustratively pulled forward

     45.2        —           39.6        —     
  

 

 

   

 

 

    

 

 

   

 

 

 

Adjusted EBITDA Illustratively Pro Forma for Future Cost Savings

     251.9        270.3         245.0        240.0   
  

 

 

   

 

 

    

 

 

   

 

 

 

 

(A) The Company continues to expect to incur $85-100 million of restructuring charges in connection with its European Restructuring. The expected timing of such charges has been delayed several months as a result of the proposed acquisition of the Company by Parent and on-going negotiations with works councils. As a result, the significant majority of restructuring charges expected to be incurred in 2013 are now expected to be incurred in 2014.