Automotive and industrial supplier Schaeffler signed an agreement with an affiliate of Triton Fund V for the acquisition of the Ewellix Group. Accordingly, the purchase on global manufacturer and supplier of linear technology components and systems, will strengthen Schaeffler’s market position in the linear business.
Ewellix is a market leader in multiple areas of technology, including electromechanical industrial actuators and lifting columns as well as roller screws. Particularly, the robotics and medical technology, as well as mobile machinery segments use their products. Hence, the Ewellix Group’s product range is highly complementary to the existing product portfolio in Schaeffler’s Industrial division.
Ewellix’s sales and R&D teams and its six production and customizing sites constitute a strong business unit. With a combined workforce of around 1,200, they will work closely with the Schaeffler Industrial team to realize synergies.
Schaeffler AG Chief Executive Officer Klaus Rosenfeld said acquiring Ewellix will further strengthen its industrial business. In addition, Rosenfeld said, “This acquisition represents a further step in the diversification of our business as a global automotive and industrial supplier 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.”
Linear technology promises to be a major driver of growth within the global industrial technology business over the coming years. The shared focus in this area is on high-growth sectors of the market, such as industrial automation, robotics, medical technology, the food and drinks industry, and mobile machinery.
Ewellix is a global company headquartered in Gothenburg, Sweden. It was the linear technology arm of SKF until investment firm Triton acquired the Swedish company in 2018.
The Ewellix Group is a leading manufacturer and supplier of linear actuators with over 50 years in the business. The company combines leading-edge design and development with proven expertise in manufacturing, customer-centric applications engineering, and digitalization.
Its core products include actuators, lifting columns, robot range extenders, ball and roller screws, and linear guides (monorail guidance systems and linear ball bearings). Moreover, these products suit a wide range of applications and equipment types, including medical technology, mobile machinery, assembly automation, robotics, and various other areas of industry.
Ewellix has six production and customizing sites across the United States, Europe and Asia, operates 16 sales offices in 15 countries, and works with a network of about 550 sales partners. Most importantly, the company reported revenues of approximately €216 million for 2021. It expects to post revenues of about €250 million for the 2022 financial year.
Dr. Stefan Spindler, CEO Industrial at Schaeffler, said, “Consequently, the company has a rich pipeline of highly innovative solutions and customer projects. We will support the Ewellix team in the implementation of their bold growth plans. We will leverage synergies at every step of the way and partner with them to further develop the manufacturing systems at their production units.”
The Ewellix deal represents a major expansion of the Schaeffler Group’s portfolio of linear technologies. This enables the company to tailor its products in this area even more closely to customer requirements. To illustrate, the purchase of Ewellix also means that Schaeffler can now focus more strongly than before on three central trends in the industrial business. First, is the trend toward replacing or supplementing hydraulic and pneumatic solutions with electromechanical systems. Second, is the quest for optimal efficiency. Finally, the automation and robotics trend.
Ewellix has a modular range of actuator technologies that enables it to build customized, application-specific solutions quickly and cost-effectively. By combining this range with its own, Schaeffler will unlock additional customized solutions based on smart design principles.