EVERETT, Wash.--(BUSINESS WIRE)--Fortive Corporation (“Fortive”) (NYSE: FTV) today announced its intention to pursue a tax-free spin-off of its Precision Technologies segment (“NewCo”). The planned spin-off will create two independent publicly traded companies, each with focused business models and tailored investment and capital allocation strategies..

华盛顿州埃弗雷特。-（商业新闻短讯）--Fortive Corporation（“Fortive”）（纽约证券交易所：FTV）今天宣布，打算对其精密技术部门（“NewCo”）进行免税分拆。计划中的分拆将创建两家独立的上市公司，每家公司都有专注的商业模式和量身定制的投资和资本配置策略。。

James A. Lico, Fortive’s President and Chief Executive Officer, stated, “Over the last eight years, we’ve created a more durable, higher-growth company with an intense commitment to innovation. Our unique culture rooted in our powerful Fortive Business System (FBS) has been critical to the value we’ve driven over this period.

Fortive总裁兼首席执行官詹姆斯·李科（James A.Lico）表示：“在过去的八年中，我们创建了一家更持久、更高增长的公司，并致力于创新。根植于强大的Fortive业务系统（FBS）的独特文化对我们在这段时期所创造的价值至关重要。

Today’s announcement marks the next step forward in Fortive’s evolution. Once the spin-off is complete, Fortive will be more focused on recurring revenue and software businesses, and better positioned to accelerate growth and consistently grow earnings and free cash flow. Similarly, our Precision Technologies business will thrive as a standalone public company, focused on key secular growth trends powering the world’s technology advancements.

今天的宣布标志着Fortive的下一步发展。一旦分拆完成，Fortive将更加专注于经常性收入和软件业务，并更好地加速增长，持续增长收益和自由现金流。同样，我们的精密技术业务将作为一家独立的上市公司蓬勃发展，专注于推动世界技术进步的关键长期增长趋势。

We are confident that this plan will best position each company for the future and deliver enhanced value for all stakeholders.”.

我们相信，该计划将为每家公司的未来提供最佳定位，并为所有利益相关者带来更大的价值。”。

Fortive: Focused and Resilient Portfolio with ~50% Recurring Revenue

Fortive：专注且有弹性的投资组合，经常性收入约占50%

Upon completion of the planned spin-off, Fortive will consist of the portfolio brands currently operating under Fortive’s Intelligent Operating Solutions and Advanced Healthcare Solutions business segments. Fortive's market-leading portfolio of technology solutions, with approximately 50% recurring revenue, delivers productivity, safety and reliability value to customers.

计划分拆完成后，Fortive将由目前在Fortive智能运营解决方案和高级医疗保健解决方案业务板块下运营的组合品牌组成。Fortive的市场领先的技术解决方案组合，约有50%的经常性收入，为客户提供生产力、安全性和可靠性价值。

The company expects to pursue a disciplined and balanced capital allocation strategy, prioritizing M&A that enhances recurring revenue, growth and free cash flow, while remaining balanced between acquisitions and share repurchases..

该公司预计将采取严格而平衡的资本配置策略，优先考虑并购，以提高经常性收入、增长和自由现金流，同时在收购和股份回购之间保持平衡。。

NewCo: Precision Technologies Businesses Powering the Digital and Electric Future

NewCo：为数字和电子未来提供动力的精密技术企业

Following the expected completion of the spin-off, NewCo will comprise the same leading brands currently operating under the Precision Technologies segment and will continue to benefit from FBS’s ability to drive growth, innovation and value. NewCo will also be poised to capitalize on powerful secular tailwinds across key end markets by leveraging its mission critical technologies in test and measurement, specialty sensors, and aerospace and defense subsystems.

预计分拆完成后，新公司将拥有目前在精密技术领域运营的领先品牌，并将继续受益于FBS推动增长、创新和价值的能力。NewCo还将利用其在测试和测量、专用传感器、航空航天和国防子系统方面的关键任务技术，利用关键终端市场强大的长期顺风。

With industry-leading margins and cash flow generation, NewCo will be well-positioned to pursue organic growth investments, return cash to shareholders, and seek selective M&A opportunities aligned to its core strategy and value creation levers..

凭借行业领先的利润率和产生的现金流，新公司将处于有利地位，可以进行有机增长投资，向股东回报现金，并寻求与其核心战略和价值创造杠杆相一致的选择性并购机会。。

Initiation of Fortive Leadership Succession Plan

启动Fortive领导力继任计划

At the completion of the spin-off, James A. Lico will retire as President and CEO and as a director. Upon Mr. Lico’s retirement, Olumide Soroye, current President and CEO of Fortive’s Intelligent Operation Solutions segment, will be appointed as President, CEO, and a director of Fortive. Tami Newcombe, current President and CEO of Fortive’s Precision Technologies and Advanced Healthcare Solutions business segments, will assume the role of President and CEO of NewCo in connection with the separation.

分拆完成后，詹姆斯·李科（JamesA.Lico）将辞去总裁兼首席执行官和董事的职务。李科先生退休后，Fortive智能运营解决方案部门现任总裁兼首席执行官Olumide Soroye将被任命为Fortive的总裁、首席执行官和董事。Fortive的Precision Technologies和Advanced Healthcare Solutions业务部门现任总裁兼首席执行官塔米·纽科姆（Tami Newcombe）将在此次离职中担任NewCo的总裁兼首席执行官。

Fortive also announced that Chuck E. McLaughlin will retire as CFO by the end of the first quarter of 2025..

Fortive还宣布，Chuck E.McLaughlin将于2025年第一季度末退休，担任首席财务官。。

Mr. Lico said, “I couldn’t be prouder of what our team has accomplished since Fortive’s launch in 2016. We are driving meaningful progress in the world and delivering differentiated results, backed by our proven Fortive Business System. We have intentionally evolved our FBS toolset to foster innovation, delivering growth and unique value for our customers.

李科先生说：“自从2016年推出Fortive以来，我为我们团队取得的成就感到无比骄傲。我们正在推动世界取得有意义的进步，并在经过验证的Fortive业务系统的支持下取得不同的成果。我们有意改进FBS工具集，以促进创新，为客户提供增长和独特价值。

I am excited for the opportunities ahead for Fortive and the Precision Technologies segment as two focused, independent public companies under the leadership of Olumide and Tami. Their impactful contributions and dedication have set both companies on a path to success, which gives me great confidence in their future.”.

我对Fortive和Precision Technologies这两家在Olumide和Tami领导下专注、独立的上市公司未来的机会感到兴奋。他们卓有成效的贡献和奉献精神使两家公司走上了成功之路，这让我对他们的未来充满信心。”。

Alan G. Spoon, Chairman of Fortive’s Board, noted, “Over the last eight years Jim has relentlessly strived to make Fortive better every day and will continue to do so through this transition. Olumide and Tami have driven impressive results for Fortive, developing market leading innovation and driving profitable growth.

。

We are looking forward to their continued success as they expand their leadership responsibilities in the future.”.

我们期待着他们在未来扩大领导职责时继续取得成功。”。

Commitment to Value-Enhancing Capital Deployment

致力于提高价值的资本配置

Between now and the completion of the spin-off transaction, Fortive expects to utilize approximately 75% of its available free cash flow to fund incremental share repurchases. The remainder of free cash flow is expected to fund Fortive’s quarterly dividend payments and reduce debt obligations, continuing two strong, investment grade balance sheets upon separation..

从现在到分拆交易完成，Fortive预计将利用其可用自由现金流的约75%为增量股份回购提供资金。剩余的自由现金流预计将为Fortive的季度股息支付提供资金，并减少债务负担，在离职后继续保持两个强劲的投资级资产负债表。。

Mr. Lico said, “We believe this is the right portfolio evolution for Fortive, and we see proactively repurchasing our shares as the most disciplined and highest value-enhancing deployment of capital as we work to execute the spin.”

李科先生说：“我们认为这是Fortive正确的投资组合演变，我们认为在我们努力执行旋转时，主动回购我们的股票是最有纪律和最高价值的资本部署。”

Reaffirming Q3 2024 and Full-Year 2024 Outlook

In connection with today’s announcement, Fortive reaffirmed its Q3 2024 and full-year 2024 outlook and expects that its share repurchase program will enhance its EPS growth in 2025.

关于今天的公告，Fortive重申了其2024年第三季度和2024年全年的前景，并预计其股票回购计划将在2025年促进其每股收益的增长。

Separation Details

分离详细信息

The spin-off is expected to be effected through a pro-rata distribution to Fortive shareholders of common stock of a newly-formed entity holding certain assets and liabilities comprising the Precision Technologies business. The transaction is intended to qualify as a tax-free spin-off to Fortive shareholders for U.S.

预计分拆将通过按比例分配给持有精密技术业务某些资产和负债的新成立实体的40名普通股股东来实现。该交易旨在成为Fortive股东在美国的免税分拆交易。

federal income tax purposes..

联邦所得税目的。。

Fortive is currently targeting completion of the spin-off in the fourth quarter of 2025, subject to the satisfaction of certain conditions including, among others, final approval of Fortive’s Board of Directors, satisfactory completion of financing, receipt of a favorable opinion of legal counsel and/or a private letter ruling from the U.S.

Fortive目前的目标是在2025年第四季度完成分拆，前提是满足某些条件，包括Fortive董事会的最终批准、融资的圆满完成、法律顾问的有利意见和/或美国的私人信件裁决。

Internal Revenue Service with respect to the tax treatment of the transaction for U.S. federal income tax purposes, the effectiveness of a Form 10 registration statement filed with the U.S. Securities and Exchange Commission, and other regulatory approvals..

美国国内税务局（National Revenue Service）就美国联邦所得税交易的税务处理、向美国证券交易委员会（U.S.Securities and Exchange Commission）提交的表格10登记声明的有效性以及其他监管批准。。

Conference Call Details

电话会议详细信息

Fortive will discuss this announcement on a conference call Thursday, September 5th, starting at 8:00 a.m. ET. The call and an accompanying slide presentation will be webcast on the “Investors” section of Fortive’s website, www.fortive.com, under “News & Events”. A replay of the webcast will be available at the same location shortly after the conclusion of the presentation..

Fortive将于9月5日（星期四）上午8:00（美国东部时间）召开电话会议，讨论这一公告。电话和幻灯片演示将在Fortive网站www.Fortive.com的“投资者”部分的“新闻与事件”下进行网络广播。演示结束后不久，将在同一地点播放网络广播的重播。。

The conference call can be accessed by dialing 877-407-3110 within the U.S. or by dialing 215-268-9915 outside the U.S. a few minutes before 8:00 a.m. ET and notifying the operator that you are dialing in for Fortive’s conference call. A digital recording of the conference call will be available two hours after the completion of the call until Thursday, September 19, 2024.

在美国国内拨打877-407-3110或在美国东部时间上午8:00前几分钟拨打215-268-9915，并通知接线员您正在拨打Fortive的会议电话，即可拨打会议电话。电话会议结束后两小时将提供电话会议的数字录音，直至2024年9月19日（星期四）。

You can access the conference call replay on the “Investors” section of Fortive’s website, www.fortive.com, under “News & Events,” or by dialing 877-660-6853 within the U.S. or 201-612-7415 outside the U.S (Access ID: 13748712)..

您可以在Fortive网站www.Fortive.com的“投资者”部分的“新闻与事件”下访问电话会议重播，也可以在美国国内拨打877-660-6853或在美国境外拨打201-612-7415（访问ID:13748712）。。

Advisors

顾问

Evercore and Morgan Stanley & Co. LLC are serving as financial advisors, and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Fortive.

Evercore和Morgan Stanley&Co.LLC担任财务顾问，Wachtell、Lipton、Rosen&Katz担任Fortive的法律顾问。

About Fortive

关于Fortive

Fortive is a provider of essential technologies for connected workflow solutions across a range of attractive end-markets. Fortive’s strategic segments - Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions - include well-known brands with leading positions in their markets.

Fortive是跨一系列有吸引力的终端市场提供互联工作流解决方案的关键技术的供应商。Fortive的战略部门（智能操作解决方案、精密技术和高级医疗保健解决方案）包括在其市场上处于领先地位的知名品牌。

The company’s businesses design, develop, service, manufacture, and market professional and engineered products, software, and services, building upon leading brand names, innovative technologies, and significant market positions. Fortive is headquartered in Everett, Washington and employs a team of more than 18,000 research and development, manufacturing, sales, distribution, service and administrative employees in more than 50 countries around the world.

公司的业务以领先的品牌、创新技术和重要的市场地位为基础，设计、开发、服务、制造和营销专业和工程产品、软件和服务。Fortive总部位于华盛顿州埃弗雷特，在全球50多个国家拥有18000多名研发、制造、销售、分销、服务和管理人员。

With a culture rooted in continuous improvement, the core of our company’s operating model is the Fortive Business System. For more information please visit: www.fortive.com..

凭借植根于持续改进的文化，我们公司运营模式的核心是Fortive业务系统。有关更多信息，请访问：www.fortive.com。。

Forward-Looking Statements

前瞻性声明

Statements in this release that are not strictly historical, including the statements regarding the anticipated spin-off of Fortive’s Precision Technologies business, the expected timeline for completing the transaction, future investment opportunities for the businesses, the anticipated future growth margin expansion and other financial and operating performance, the anticipated leadership transitions, anticipated benefits and synergies of the transaction, the strategic and competitive advantages, anticipated financial results in the third quarter and full year 2024, secular trends, future share repurchases, future prospects, shareholder value, and any other statements regarding events or developments that we believe or anticipate will or may occur in the future or that use forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the negative of these terms or other comparable terms are “forward-looking” statements within the meaning of the federal securities laws.

本新闻稿中并非严格历史性的陈述，包括有关Fortive精密技术业务的预期分拆、完成交易的预期时间表、业务的未来投资机会、预期的未来增长幅度扩大以及其他财务和经营业绩、预期的领导层转移、交易的预期收益和协同效应、战略和竞争优势、2024年第三季度和全年的预期财务业绩、长期趋势、未来股份回购、未来前景、股东价值的陈述，以及关于我们认为或预期未来将或可能发生的事件或发展或使用前瞻性术语（如“预期”、“估计”、“相信”、“继续”、“可能”、“打算”、“可能”、“计划”、“潜在”）的任何其他陈述“预测”、“应该”、“将会”、“期望”、“客观”“预测”、“预测”、“目标”、“指导”、“展望”、“努力”、“目标”、“轨迹”或这些术语或其他类似术语的负面含义是联邦证券法含义内的“前瞻性”陈述。

There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, the uncertainty of regulatory approvals and the risk that such approvals and other consents or approvals required in connection with the spin-off will not be received or obtained within the expected time frame, on the expected terms or at all, risks associated with the impact, timin.

有许多重要因素可能导致实际结果、发展和业务决策与此类前瞻性声明所建议或指示的结果、发展和业务决策存在重大差异，您不应过度依赖任何此类前瞻性声明。除其他因素外，这些因素包括监管批准的不确定性，以及在预期时间范围内、预期条款内或根本无法收到或获得与分拆相关的此类批准和其他同意或批准的风险，以及与影响timin相关的风险。