SKF Acquires Scandrive Control
Continuing a long string of small company acquisitions, SKF AB (Sweden) has acquired Scandrive Control AB (Sweden), the leading manufacturer of integrated servo gears for the printing industry.
SKF, the world's largest bearing manufacturer, has in recent years been in the market for smaller companies with leading market positions and unique technologies, positioned in high-value niche markets which dovetail with its existing businesses. And they have been adding up -- SKF now has 1,400 employees more than it did last year, entirely due to acquisitions.
Most industrial and manufacturing industry analysts point to the current economic situation as the catalyst bringing buyers into the market. Strong companies with free cash flow and ready access to capital are in a position to make acquisitions at historically low valuations.
Scandrive manufactures compact integrated actuation units incorporating a servo gear technology; the units are specially developed for high speed and high quality offset printing presses.
The company employs 22 people and had sales last year of approximately SEK 30 million (USD $3.6 million).
As with many of the recent acquisitions, Scandrive will be absorbed into SKF's Industrial division.