ERIKS has signed an agreement for the acquisition of CET Motoren Theys NV (“CET”). ERIKS expects the proposed transaction to be concluded before the end of June.
This acquisition fits well with the strategy of ERIKS Belgium to develop further into a full service specialist in power transmission and to grow strongly in Motors, Gears & Drives and services. The proposed transaction will give CET access to ERIKS’ extensive customer base, an ideal platform to pursue future growth.
For over 100 years, CET has specialised in electrical power transmissions and related services: sale and repair of electric motors, reduction gears, drives, soft starters, generators, fans and pumps. The company is active in the OEM market and for MRO customers (as well as offering technical installation and specialist motor and generator rewinding) in Belgium, Luxembourg and northern France.
Since October 2008, CET has been located in the Gullegem-Moorsele industrial estate. In addition to a large stock of WEG (motors, drives and controls), TRAMEC, KEB, SITI (reduction gears), TECO (drives), it offers condition monitoring and a range of site services including laser-optic alignment. ERIKS Belgium, with 4 major branch offices in Hoboken, Mol, Asse and Wijnegem and 11 service centres throughout the country, Luxembourg and northern France, realised sales of € 156 million in 2012.
About ERIKS
Founded in 1940, ERIKS is a leading international industrial service provider offering a wide range of high-quality mechanical engineering components and associated technical and logistics services. ERIKS’ current product range, including the technical and logistics services that form part of it, is divided into five core activities; flow technology, sealing technology, bearing and power transmission, including electromechanical services and condition monitoring, industrial plastics, and tools and maintenance products. ERIKS currently consists of more than 65 companies with branches in 27 countries serving over 200,000 customers. In 2012, ERIKS generated net sales of € 1.8 billion. ERIKS is a wholly-owned subsidiary of SHV Holdings N.V., a privately-held family company with net sales in 2012 of € 20 billio.
source: Eriks
