Acquisition of Lincoln Industrial
SKF has acquired the U.S.-based lubrication systems provider Lincoln Holdings Enterprises Inc. for $1 billion on a cash and debt-free basis from Harbor Group. Lincoln Industrial is a leading company in the design, manufacture and supply of highly engineered lubrication systems, tools and equipment. The company is headquartered in St. Louis, Missouri. The three main product lines of Lincoln Industrial are automated lubrication systems, hose reels and grease guns, with a focus on grease-based systems. The company has some 2,000 employees with manufacturing operations in the U.S., Asia and Europe. In 2010, Lincoln Industrial’s sales amounted to some $400 million with an operating profit margin of around 24 percent.