SKF’s Acquisition of Willy Vogel Finalised
SKF's acquisition of Willy Vogel AG - one of the world leaders in the field of lubrication systems - is now finalised. Vogel has annual sales of more than EUR 100 million and 940 employees.
SKF will, through this acquisition, become a world-leading supplier of lubrication systems. Seller is the private equity firm HANNOVER Finanz Group, that since 1988 has been the owner of Willy Vogel AG. SKF pays EUR 70 million and takes over net debts to an amount of approximately EUR 6.5 millions. Vogel will be reported as part of SKF as from the third quarter this year.
Vogel's special position in the lubrication systems market with strong engineering capabilities and a high knowledge in customizing lubrication systems is an excellent complement to SKF that already provides the market with special greases, lubricators and lubrication analysis services.
Through this acquisition the SKF Group has established a new engineering platform, lubrication systems, to be added to bearings, seals, linear motion products/mechatronics and reliability systems.
"Now we have the engineering platforms on which to deliver solutions to our customers and build our growth and development", says Tom Johnstone, President and CEO of SKF.
Lubrication systems will be part of the Group's Industrial Division as a separate business unit.
Source: SKF Group