Triton signs an agreement to sell Ewellix to Schaeffler
Stockholm / Gothenburg (Sweden), Herzogenaurach (Germany), 25 July 2022 – Triton Fund V advised by Triton Partners (“Triton”), has signed an agreement to sell Ewellix (“Ewellix”), a global innovator and manufacturer of linear motion and actuation solutions, to Schaeffler AG (“Schaeffler”), the leading global supplier to the automotive and industrial sectors. The transaction is subject to customary regulatory approvals and other closing conditions and is expected to take place by the end of 2022.
Triton acquired Ewellix, formerly known as SKF Motion Technologies, via a carve-out transaction from Sweden’s SKF Group in 2018. By combining Triton’s expertise in the Industrial Tech sector with the firm’s strong track record in carve-outs, Ewellix underwent a rapid and highly successful transformation. During Triton’s ownership, the company was strategically repositioned as a standalone company with a focus on high growth niches within the linear motion market. In addition, the product portfolio was streamlined, its production footprint and procurement functions optimized, and significant investments were made in digitalization and product development.
Today, Ewellix is a global innovator and manufacturer of actuation and linear motion solutions. Its products are used in a wide range of applications and equipment, including medical, mobile machinery, assembly automation and robotics, as well as various general industrial applications. Ewellix has sales offices in 15 countries, which combined with its network of ~550 selected distribution partners and ~3,200 branch offices, gives it a truly global sales presence. The company operates 6 manufacturing units across the US, Europe and Asia, enabling efficient delivery to its worldwide customer base.
Claus von Hermann, Managing Partner at Triton, said: “We would like to thank Ewellix’s management team, employees and all those that have contributed to the company’s successful transformation during our ownership. We wish Ewellix all the best for the future under Schaeffler’s stewardship.”
Dr. Stefan Spindler, CEO Industrial Schaeffler AG, commented: “Schaeffler and Ewellix are an excellent combination both in terms of cultural fit as well as product complementarity. I got to know the Ewellix team as being highly market and customer-driven with a strong innovation and product pipeline. At Schaeffler we are very much looking forward to welcoming our new colleagues in order to jointly write the next growth chapter.”
Daniel Westberg, CEO of Ewellix, added: “We thank the Triton team for the great support and the good collaboration during our partnership, and welcome Schaeffler as our new owner. We are excited about the next phase of our journey as a high growth profitable company.”
Ewellix is an excellent example of Triton’s operationally focused strategy of investing in sectors it knows well and applying proven, repeatable investment themes to unlock significant value.
Ewellix is a global innovator and manufacturer of actuation and linear motion solutions. Its products are used in a wide range of applications and equipment, including medical, mobile machinery, assembly automation and robotics, as well as various general industrial applications. Ewellix has sales offices in 15 countries, which combined with its network of ~550 distribution partners and ~3,200 branch offices, gives it a truly global sales presence. Ewellix operates 6 manufacturing units across the US, Europe and Asia, enabling efficient delivery for its worldwide customer base. Ewellix is headquartered in Gothenburg, Sweden.
For further information: https://www.ewellix.com/en
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial tech, services, consumer, and healthcare sectors. Triton invests in and supports the positive development of medium-sized businesses headquartered in Europe.
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 improvement and growth.
The companies currently in Triton’s portfolio have combined sales of around EUR 18.1 billion and employ around 104,000 employees.
For further information: www.triton-partners.com