Stockholm (Sweden), Gothenburg (Sweden) 03 December 2018 – After receiving the required approvals, funds advised by Triton (“Triton”) have successfully completed the acquisition of the business unit SKF Motion Technologies (“SMT”) from the SKF Group listed on Nasdaq Stockholm.
SMT is a global provider of electrical linear actuator components- and systems as well as linear motion products, with market leading positions and differentiated offerings in global niche markets, including high end medical and industrial actuators and roller screws. Headquartered in Gothenburg, Sweden, the company operates nine production sites, 13 dedicated sales units and employs approximately 1,200 employees.
With the closing Triton takes over all entities of the former business unit, as well as all staff. From now on SMT will be further developed as a standalone company under Triton’s ownership. A new brand name will be rolled out during 2019 and the company will continue to be known as “SKF Motion Technologies” and retain legal right to use the abbreviation SKF until introduction of the new brand.
“We look forward to actively supporting SMT’s management and employees by investing in and supporting the growth and development of the company. Our industry expertise from other investments in the sector and our strong network of senior industry experts, will contribute to further develop the company.” said Peder Prahl, Director of the General Partner for the Triton funds.
About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 37 companies currently in Triton’s portfolio have combined sales of around € 12.9 billion and around 83,000 employees.
The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.
Press contacts:
Triton
Fredrik Hazén +46 70 948 38 10
SKF
Theo Kjellberg +46 72 577 65 76
