Stabilus S.A. successfully completes acquisition of SKF Group entities ACE, Hahn Gasfedern and Fabreeka/Tech Products
Jun 30, 2016 8:10 PM
Stabilus S.A. / Key word(s): Acquisition
Stabilus S. A. successfully completes acquisition of SKF Group entities ACE, Hahn Gasfedern and Fabreeka/Tech Products
- Transaction strengthens Stabilus' industrial business unit by expanding its portfolio and tapping new customer groups
- Positive effect on adjusted EBIT-margin and earnings per share expected
Luxembourg/Koblenz, June 30, 2016 - Stabilus S.A. (ISIN: LU1066226637, "Stabilus") has successfully closed the acquisition of the SKF Group entities ACE, Hahn Gasfedern and Fabreeka/Tech Products. The acquisition has been cleared by antitrust authorities without conditions and has therefore been implemented as planned. Stabilus expects the transaction to have a positive effect on its adjusted EBIT-margin and earnings per share.
ACE, Hahn Gasfedern and Fabreeka/Tech Products are established industrial suppliers in the fields of motion control, damping and vibration control for a broad spectrum of clients in numerous fast-growing industry segments, such as automation technology, plant and machine engineering, commercial and rail vehicle manufacture as well as medical technology. The companies, which employ a total of around 550 people worldwide, have distinctive competences in specifically customized applications for medium to small lot sizes. They generated consolidated revenues of approx. USD 120 million for the financial year 2015. With the acquisition, Stabilus expands its product portfolio in the industrial sector and taps new customer groups.
Dietmar Siemssen, CEO of Stabilus S.A., said: "We welcome the employees as well as the customers of ACE, Hahn Gasfedern and Fabreeka/Tech Products in our Stabilus family. We're convinced that the companies will continue their thriving development under the roof of Stabilus, strongly complementing our product portfolio in the industrial sector. This acquisition marks an important step for Stabilus to further expand our position as a global provider of motion control solutions. Through joint research, technology and development activities as well as knowledge sharing and the development of new markets, we will be in a position to significantly broaden the offering of solutions in the industry sector for our existing and new customers."
As a globally active automotive and industrial supplier, Stabilus develops and produces electromechanical drives (POWERISE) as well as gas springs and hydraulic dampers. Employing approximately 4,400 people worldwide in fiscal year 2015, the company has its operational headquarters in Koblenz. In fiscal year 2015, Stabilus generated revenue of around EUR 611 million. Stabilus operates eleven production plants across nine countries and distributes its products in over 50 countries in Europe, North, Central and South America and Asia Pacific via its regional offices and sales partners. Stabilus has been listed in the Prime Standard segment of the Frankfurt Stock Exchange since May 2014 and was taken up in the SDAX index in September 2014.
About ACE, Hahn Gasfedern and Fabreeka/Tech Products
For more than 50 years, ACE has supported its industrial customers with a broad range of damping solutions. The company has locations in the US, Germany, the UK, China and Japan. It is headquartered in Farmington Hills, US, and Langenfeld, Germany. ACE has approx. 250 employees.
Hahn Gasfedern has been manufacturing gas springs since 1960 for various industrial applications. The company has a workforce of approx. 200 employees and is headquartered in Aichwald, Germany.
Fabreeka/Tech Products was founded in 1918 and specializes in damping vibration, which are used in many machines, instruments and vehicle components. The company has locations in the US, the UK and Germany. It employs around 100 employees.
This press release may contain forward-looking statements based on current assumptions and forecasts made by Stabilus Group management and other information currently available to Stabilus. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here.
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