RBS Global, Inc., the parent company of Rexnord Corp., announced Wednesday that it has entered into an agreement with an affiliate of Apollo Management, L.P. to acquire the plumbing products business Zurn of Jacuzzi Brands, Inc. The deal is said to be worth approximately $950 million.Rexnord anticipates the purchase will be financed through an equity investment by Apollo and its affiliates of approximately $290 million. Debt financing for the deal is about $660 million. The acquisition is expected to close in the first quarter 2007. The acquisition is dependent on Rexnord’s receipt of financing, as well as the completed acquisition of Jacuzzi Brands by Apollo. Rexnord is a manufacturer of power transmission, aerospace and other precision motion technology products. Zurn designs and manufactures plumbing products used in commercial and industrial construction, renovation and facilities maintenance markets in North America. Credit Suisse served as financial advisor to Rexnord Corporation on this transaction.