We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Privacy Policy.
  • TOPICS
    • Design
    • Manufacturing
    • Applications
    • Components
    • Industry
    • MRO
  • MAGAZINE
    • Current Issue
    • Departments
    • Archives
    • Subscribe
    • Advertise
  • NEWSLETTER
  • VIDEO
    • Power Transmission Engineering TV
    • Webinars
  • BLOGS
    • Revolutions
    • Editors Choice
    • Motor Matters with George Holling
    • Bearings with Norm
  • BUYER'S GUIDE
  • NEWS and EVENTS
    • Product News
    • Industry News
    • Events
  • Advertising
    • Brand Awareness
      • Print: Display Advertising
      • Print: Engineering Showcase
      • Online: Web Banners & Keyword Banners
      • Online: Sponsored Content (Native Advertising)
      • E-mail: Custom, White Papers & Webinars
      • Email: Sponsored Content (Native Advertising)
    • Response & Lead Generation
      • E-Mail: Sponsored Content (Native Advertising)
      • E-mail: Newsletters
      • E-mail: Custom, White Papers & Webinars
      • Online: Buyers Guide
      • Online: Sponsored Content (Native Advertising)
    • Print
      • Print: Display Advertising
      • Print: Engineering Showcase
      • Print: MPT Expo Showstoppers (October 2023)
      • Print: Buyers Guide
      • Print: Engineering sMart
      • Print: Specifications
      • MPT Expo Show Guide Advertising
    • Online
      • Online: Web Banners and Keyword Banners
      • Online: Buyers Guide
      • Online: Sponsored Content (Native Advertising)
      • Online: Specifications
    • E-Mail
      • E-mail: Newsletters
      • E-mail: Custom, White Papers & Webinars
      • E-mail: Sponsored Content (Native Advertising)
      • E-mail: Specifications
    • Special Promotions
      • Print: Engineering Showcase
      • Print: Showstoppers (MPT Expo)
      • Print: Buyers Guide
      • Print: Engineering sMart
      • MPT Expo Show Guide Advertising
  • Contact Us
  • AGMA
    • Membership
    • Events
    • Education
    • Emerging Technology
    • AGMA Media
      • Gear Technology
      • Gear Technology India
    • Standards
Subscribe
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » SKF to Aquire Kaydon Corporation

SKF to Aquire Kaydon Corporation

September 10, 2013
SKF and Kaydon Corporation have agreed that SKF will acquire Kaydon in an all-cash transaction valued at approximately USD 1.25 billion, including USD 95 million of net debt. The transaction will be paid through existing cash and credit lines and will be accretive to SKF earnings in year one.

Tom Johnstone, SKF president and CEO, explains, “We have followed the development of Kaydon for a long time. They have a strong product portfolio, strong management and a solid financial performance and I am delighted that they will soon be part of the SKF Group. The complementary nature of their products and technologies, their geographical and customer presence and their manufacturing footprint will enable us to even better serve our customers and distributors in the industrial market worldwide. In particular this acquisition, combined with our other activities, investments and acquisitions in the last few years, shows our strong commitment to the North American market.”

Kaydon is a diversified industrial manufacturer with three distinct business areas:  friction control products (bearings), velocity control products and specialty products, including environmental services. Kaydon has a global footprint with 62 percent of its sales generated in North America, 24 percent in Europe, 12 percent in Asia Pacific and 2 percent in the rest of the world. In 2012, the company had sales of USD 475 million, with an adjusted operating profit of around 16% and has over 2,100 employees.

James O’Leary, chairman and CEO of Kaydon Corporation commented, “Our Board believes that the proposed transaction represents a compelling value for our shareholders. We believe that this transaction represents an excellent strategic fit for Kaydon that will allow our market leading businesses to accelerate their growth strategies by joining forces with SKF, a global industry leader.”

SKF will launch an all-cash tender offer for all outstanding shares of Kaydon. Under the terms of the definitive agreement, which has been unanimously approved by both companies’ boards of directors, SKF will commence a tender offer to purchase all of Kaydon’s outstanding shares for USD 35.50 per share in cash. The tender offer will commence on 16 September, 2013 and is subject to customary terms and conditions, regulatory clearances, including the tender of at least a majority of the outstanding shares of Kaydon common stock. Upon completion of the tender offer, SKF will acquire all remaining shares through a short form merger.
Industry News
  • Related Articles

    Kaydon Corp. Announces Leadership Transition

    Siemens Enters Agreement to Acquire Infolytica Corporation

    Rexnord Corporation to Acquire Centa Power Transmission

Free Power Transmission Engineering Subscriptions
Subscribe
Free Power Transmission Engineering Subscriptions
Subscribe
FEATURED VIDEO
  • Sugar Refinery Dryer Fan with NSK Europe
March 1, 2023
RECOMMENDED
  • Next-Generation Lubricants for Marine Applications

    September 28, 2023
    pt1023_Page_18_Image_0001.jpg
  • Efficiency, Engineering & Espionage

    September 7, 2023
    Ferris1.jpg
  • Power Up Your Participation

    September 8, 2023
    Detroit Skyline1.jpg
  • Digital Transformation Drives the Future of Packaging

    September 28, 2023
    Emerson1.jpg
  • Repowering the Future: Data-Driven Wind Farms

    September 28, 2023
    ONYX Insight.jpg
  • Digital Transformation Drives the Future of Packaging

    September 28, 2023
    Emerson1.jpg
  • Repowering the Future: Data-Driven Wind Farms

    September 28, 2023
    ONYX Insight.jpg
  • Next-Generation Lubricants for Marine Applications

    September 28, 2023
    pt1023_Page_18_Image_0001.jpg
  • Subscribe
  • Advertise
  • Contribute
  • Gear Technology
Powered byAGMA
Copyright © 2023 Power Transmission Engineering
  • Privacy Policy
  • Contact