Schaeffler purchase heralds drive for growth in linear tech
10 Aug 2022
Schaeffler has signed an agreement to acquire global manufacturer and supplier of linear technology components and systems, the Ewellix Group.
Based in Sweden and formerly the linear technology arm of SKF, Ewellix was bought by investment firm Triton four years ago to become a stand-alone company.
Its specialisms include electromechanical industrial actuators and lifting columns as well as roller screws for robotics, medical technology and in mobile machinery.
Ewellix boasts six production and customisation sites across the USA, Europe and Asia, with sales offices in 15 countries and a network of about 550 sales partners. Its reported revenues of €216 million last year are expected to be vastly exceeded by the predicted €250 million for 2022.
“By acquiring the Ewellix Group, we are significantly expanding our industrial division’s linear technology footprint, particularly in areas of strategic importance for the future,” said Dr. Stefan Spindler, CEO Industrial at Schaeffler.
The purchase by Schaeffler reflects the company’s belief that linear technology will be a major driver of growth within the global industrial technology market, especially in the industrial automation, robotics, medical technology, food and drink, plus mobile machinery sectors.
Schaeffler CEO Klaus Rosenfeld commented: “This acquisition represents a further step in the diversification of our business … and will put us in an even stronger position to invest in attractive growth markets. The deal is another key milestone that will make the Schaeffler Group even better prepared for the future.”
Tapping into demand for electromechanics, efficiency optimisation, automation and robotics means Schaeffler will now focus increasingly on three elements, says the company.
These encompass replacing or supplementing hydraulic and pneumatic solutions with electromechanical systems, optimal efficiency, plus automation and robotics. Subject to merger control and foreign direct investment clearances, the purchase is expected to complete by the end of this year.
