Drive technology
SKF sells linear technology and actuators
The Schweinfurt-based company SKF has signed an agreement with Triton, a German-Scandinavian investment company, to sell its linear technology and actuators business. The purchase price amounts to the equivalent of 270 million euros.
The sale, which is subject to the approval of the regulatory authorities, contributes to the SKF Group's goal of focusing on its core business in rotating applications. In the 2017 financial year, the Linear Motion and Actuation division employed around 1,200 people worldwide and generated sales of just under EUR 200 million.
Christian Johansson, Senior Vice President and CFO of SKF, commented on the sale: "Following its successful development into an independent unit, the division now has a new ownership structure that will enable it to continue its development. The sale also adds value for us and our shareholders by improving our balance sheet and sharpening our product portfolio."
The Triton funds invest in medium-sized companies based in Europe and focus on companies in the industrial, services and consumer goods/healthcare sectors. Triton's portfolio currently comprises 35 companies with a total turnover of around 13 billion euros and around 87,000 employees.
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