DGAP-Adhoc: Schaeffler AG: Schaeffler enters into an agreement to acquire Ewellix Group

Schaeffler enters into an agreement to acquire Ewellix Group

HERZOGENAURACH | 24 July 2022 | Today, Schaeffler AG (ISIN DE000SHA0159, WKN SHA015) entered into an agreement with a holding company owned by Triton Fund V to acquire Ewellix Group for a purchase price of approx. EUR 582m. This amount does not include the net debt of Ewellix of approx. EUR 120m which will be assumed by Schaeffler. The closing of the purchase agreement is subject to market customary closing conditions with regard to merger control and foreign direct investment clearances. Closing is expected to occur end of 2022.

Ewellix Group is a leading global manufacturer and supplier of linear motion solutions, which incorporate state-of-the-art design and development, manufacturing expertise as well as application technology and digitalization. Its product portfolio is an excellent fit with the existing product portfolio of the industrial business of the Schaeffler Group. With the acquisition of Ewellix Group Schaeffler AG continues the expansion of its industrial division.

Ewellix Group reported revenues of approx. EUR 216m equivalent for the year 2021. Revenues of more than EUR 250m are currently expected for 2022. The Group operates 6 production and customizing sites in Europe, the U.S. and Asia and employs 1,196 employees as of 30 June 2022.

The purchase price will be paid from existing internal and external financing sources. The transaction is expected to lead to an improvement in earnings per share of Schaeffler AG in the mid-single digits already in 2024.