Richard Kyle: On the split between wind and solar, for us, wind stronger. We’ve had more — we have more outgrowth tactics there, we’d have more capital going into that space; both markets, good. And then, there’s also — within solar, there’s probably a little more — well, there is a little more split between if fixed technology wins out over rotating technology, and then which technology wins as well in the solar channel. So, we have a different mix there, and depending on which growth rate is, whereas with wind, we participate across that, a little higher in gear drive than direct drive, but we have good content across all of it. So, we’re more neutral on the technology side, and we have more self-help. So, I would expect the growth rate to be higher on winds, the full-year. You want to talk about the cadence for the year?
Philip Fracassa: Yes, I was going to say, Bryan, I think the — we’ve seen momentum build in renewable and wind, in particular, the last couple quarters. So, we would expect to be at or even — could even be slightly above that rate in the first quarter just given the comp we’d be working off of, as well as the momentum we’ve seen in the last couple quarters, kind of building into the first.
Bryan Blair: Yes, appreciate the color there. And can you provide an update on Spinea and GGB integration, and offer a little more detail on the sources and potentially the magnitude of the ARB synergies? Sounds like there could be a little bit of heavy lifting to do there? And then if we combine Spinea and GGB carryover with ARB contribution, how much deal accretion you have baked into the guide, so understanding that Nadella, for the time being, is not factored in?
Richard Kyle: Yes, maybe I’ll take them in reverse order. So, ARB is certainly some heavy lifting, but also, again, family-owned business for several generations. So, when you look at our scale, our U.S. manufacturing presence, our purchasing power, et cetera, I think we’re going to be able to bring pretty quick synergies to that. That being said, going from the modest EBITDA margins that joins us to Process Industries’-type margins will certainly probably be more ’25 before we get up to that level. But I would expect improvement — significant improvement in the run rate by the second-half of this year, and then another step up in next year before we would get to that; a lot of synergies within that business for us. GGB, similar, it’s been integrated into our bearing business.
The early priority was standing up some of the carve out from EnPro, and that’s largely done. And so, we’re operating largely without them and weaning ourselves off the transition service agreements there. So, really focused now on integrating that, and a lot — probably more emphasis so far on sales synergies than the operational side, but I think everything looks good there. And we have a good plan in place for that this year. And then Spinea, pretty light synergy case for Spinea, that was really about entering a new product technology in a growing market. So, certainly there are some synergies in selling our existing harmonic product along with their cycloidal product. But they are largely different technical solutions for different applications, and not an enormous amount of operational synergies there.
So, all three, exciting, and particularly since we didn’t have Nadella in the guide at all, I’ll let Phil clarify the accretion comment.
Philip Fracassa: Yes, so specifically with ARB, it would have been in the guide — the guide that we provided, so that would be very, very modestly accretive just given the size. Nadella will add both to the revenue as well as all the way down after it closes. And from an accretion standpoint, under the new definition, it would be likely — depending on timing, likely north of a nickel, somewhere between sort of $0.05 to $0.10, somewhere around there.
