B+V components business goes to SKF

09 Jan 2013
Sterntube seal made by BVI, which is to become part of SKF

Sterntube seal made by BVI, which is to become part of SKF

SKF of Sweden is to acquire German ship components provider Blohm + Voss Industries (BVI), which manufactures shaft components (seals and bearings), stabilisers, and oily water separators.

SKF has agreed with BVI’s owner Star Capital Partners to pay €80 million for 100% of the equity of BVI and to assume net loans/cash of €18 million. The transaction is subject to relevant regulatory approvals.

BVI has around 400 employees and was originally part of the Hamburg-based Blohm + Voss shipyard, which was founded in 1877. SKF says that the acquisition will strengthen its presence in the marine industry, withy BVI’s operations and capabilities fitting closely with SKF’s seals and bearing products, in particular in the hydrodynamic bearings market. BVI’s service network will enhance the SKF global market presence.

“We are excited to have Blohm + Voss Industries become part of the SKF Group. The synergies between the SKF and BVI marine portfolio will support SKF to be an even stronger partner for critical shaft components to the marine industry and marine specific applications for both OEM and end users,” says Tom Johnstone, SKF president and CEO.

“We are very positive about joining the SKF Group. The combination of our technologies, strategies, and organisations will be a good basis to make SKF an even stronger supplier to the marine industry,” says Martin Johannsmann, CEO BVI.

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