SKF INC to Acquire Blohm + Voss Industries

Wednesday, 9 Jan 2013 07:00am EST 

SKF INC announced that it has signed an agreement to acquire German -based ship components provider Blohm + Voss Industries (BVI) from Star Capital Partners. SKF will pay EUR 80 million for 100% of the equity of BVI and assumes net loans/cash of EUR 18 million. The transaction is subject to relevant regulatory approvals. Blohm + Voss Industries is a manufacturer of, and service provider for, equipment for critical marine applications, including shaft components (seals and bearings), stabilizers, and oily water separators. The company has approximately 400 employees and originates from the Blohm + Voss shipyard, which was founded in 1877. Sales for fiscal year 2011/2012 were approximately EUR 100 million with an operating margin in line with the SKF Group. 

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