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 Partners
Founded in 1997 and owned by its partners, Triton Partners is a leading European mid-market sector-specialist investor. Triton Partners focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.
Triton Partners has over 150 investment professionals and value creation experts across eleven offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.