24 Jul 2024


Schaeffler buys Ewellix for €582m, to boost its linear range

The acquisition of Ewellix’s linear portfolio marks a major expansion for Schaeffler’s industrial activities

Schaeffler is buying the Ewellix Group – formerly SKF’s linear technology arm – for around €582m. This amount does not include transaction costs, nor Ewellix’s net debt of around €120m which Schaeffler will take on.

Schaeffler is acquiring Ewellix from the venture capital company Triton Partners which bought the former SKF Motion Technologies from SKF for $310m in 2018, before renaming it as Ewellix.

Under Triton’s ownership, Ewellix has been repositioned as a standalone company with a focus on high-growth niches in the linear motion market. Its product portfolio has also been streamlined, its production footprint and procurement functions optimised, and significant investments made in digitalisation and product development.

Schaeffler says the acquisition represents a major expansion of its portfolio of linear technologies and will allow it to tailor its products in this area more closely to customer requirements. The deal also means that Schaeffler will be able to focus more closely on three trends in industry:
• replacing or supplementing hydraulic and pneumatic systems by electromechanical systems;
• the desire to improve efficiency; and
• automation and robotics.

Ewellix has a modular range of actuator technologies that enables it to build customised, application-specific systems quickly and cost-effectively. Schaeffler says that combining this range with its own will unlock additional customised capabilities based on smart design principles. It adds that linear technology promises to be a major driver of growth in the global industrial technology business over the coming years.

“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,” says Dr Stefan Spindler, CEO of Schaeffler’s industrial operations. “Schaeffler and Ewellix are an excellent combination both in terms of cultural fit as well as product complementarity.

“The company has a rich pipeline of highly innovative solutions and customer projects,” he adds. “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.”

Ewellix, whose headquarters are in Sweden, is a market leader in several areas of technology, including electromechanical actuators and lifting columns, as well as ball and roller screws, and linear guides (monorail guidance systems and linear ball bearings). Schaeffler says that Ewellix’s products are “highly complementary” to its own industrial division’s portfolio.

Ewellix has six production and customisation sites in the US, Europe and Asia, and operates 16 sales offices in 15 countries. It has a workforce of around 1,200. In 2021, Ewellix reported revenues of around €216m and it is expected to post revenues of about €250m in 2022.


“By acquiring Ewellix, we are further strengthening our industrial business and are continuing to follow through on our strategy, despite these volatile times,” says Schaeffler CEO, Klaus Rosenfeld. “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.”

Ewellix CEO Daniel Westberg, has welcomed Schaeffler as the company’s new owner. “We are excited about the next phase of our journey as a high growth profitable company,” he says.

Schaeffler says that that the acquisition offers “major scope for synergies, especially in sales”. The deal, in the form of shares, is expected to lead to an improvement in Schaeffler earnings per share in the mid-single digit percentages by 2024.

The closing of the acquisition is subject to market customary closing conditions with regard to merger control and foreign direct investment clearances. The deal is expected to close by the end of 2022.

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